Crude Oil Slides as OPEC Boosts Supply While Dollar Soars - Biography Flash Market Update
Failed to add items
Sorry, we are unable to add the item because your shopping cart is already at capacity.
Add to basket failed.
Please try again later
Add to Wish List failed.
Please try again later
Remove from Wish List failed.
Please try again later
Follow podcast failed
Unfollow podcast failed
Crude Oil Slides as OPEC Boosts Supply While Dollar Soars - Biography Flash Market Update
-
Narrated by:
-
By:
About this listen
The story in crude oil markets over the past 24 hours has been all about price pressure, production forecasts, and geopolitical headlines. Brent crude fell to 63.97 dollars a barrel as of today, down around 0.62 percent from yesterday, continuing a trend with Brent headed for its third straight monthly decline. Behind the price softness, both Trading Economics and Goodreturns note that the market is bracing for OPEC+ to bump up output by 137,000 barrels per day in December. Saudi Arabia’s exports have hit a six-month high, and US production blasted through records last week at 13.6 million barrels per day. These supply-side moves are outpacing any price spikes from recent US sanctions targeting major Russian producers.
Sanctions have forced buyers like India and China to drive harder bargains for Russian crude, steepening discounts and pushing Indian refiners like Reliance to reconsider Russian deals. Even so, Russia’s continuous export volumes have kept the market adequately supplied according to Goodreturns. President Trump also weighed in, claiming China is resuming purchases of US energy, floating a possible major oil and gas deal from Alaska but as of now, that’s talk, not sealed action. Investing.com confirms WTI crude futures are around 60.34 dollars a barrel today—marking minimal day-on-day change and reinforcing the sense of a flat market.
On the trader sentiment front, the market is being dictated by the interplay of a stronger US dollar—making oil cheaper for importers elsewhere but trimming exporter revenues. The dollar’s strength is a key reason for the downward drift in prices and is cited by nearly every analyst this week. Inventory data looms as another suspense point, but most observers—and Trading Economics’ global models—see Brent trading slightly higher near 67 dollars a barrel by quarter’s end, with a longer term drift back up toward 72 dollars over the next year, barring any big surprises.
Social media in the last day has focused on “OPEC+ supplies, sanctions, Trump’s China deal talk,” and “the dollar’s weight on oil,” trending under the hashtags #CrudeOilNews and #OilPrices on Twitter and finance platforms. No major viral business deals or unexpected public appearances have surfaced except the expected OPEC+ meeting set to clarify December output.
So to sum up, prices are under pressure, supply is robust, geopolitical rumblings continue, and for now, crude oil remains locked in a downtrend. Thanks for listening to Daily Crude Oil Price Tracker with Vanessa Clark. For daily oil news, market gossip, and insights you won’t want to miss, please subscribe so you never miss an update. And don’t forget to search the term Biography Flash for more great biographies.
And that is it for today. Make sure you hit the subscribe button and never miss an update on Recent News and Information from the past 24 hours on the commodity Crude Oil including latest trading price.. Thanks for listening. This has been a Quiet Please production."
Get the best deals https://amzn.to/490st2I
This content was created in partnership and with the help of Artificial Intelligence AI
No reviews yet
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.