According to Reuters sources, the OPEC+ cartel is set to gradually phase out production cuts starting after the first quarter of next year, continuing through 2026. WTI crude reacted with a sharp decline to this announcement. It is worth noting that this decision had been anticipated by the market, which could explain the bearish reaction as a case of "selling the news already priced in by the market in the past." Both Brent Crude and WTI oil reacted with slightly declines after the reports.

Source: xStation5
Chart of the day: GOLD (22.10.2025)
Morning wrap (22.10.2025)
Daily summary: Markets on Hold Ahead of Netflix Earnings
⏬Gold loses more than 5%.