Crude markets slide as U.S. stockpiles grow and OPEC+ weighs December production move

Oil prices fell below $87 as inventories rose and OPEC+ considered a December output hike, increasing near-term supply pressure and moderating investor sentiment.

Live Market Updates

Latest Financial News

negative
40 days ago

Crude markets slide as U.S. stockpiles grow and OPEC+ weighs December production move

Crude markets slide as U.S. stockpiles grow and OPEC+ weighs December production move
Oil futures extended losses as U.S. government data revealed a larger-than-expected crude inventory increase, raising supply concerns among traders. Brent fell below $87 per barrel while WTI hovered near $83. Analysts cited seasonal demand weakness and possible OPEC+ output expansion planned for December. The alliance reportedly aims to balance higher global supply while preventing market volatility. Investors also tracked Chinese demand recovery indicators, which remained uneven. Energy strategists expect near-term pressure to persist until policy clarity emerges from OPEC+’s next meeting later this month.
Companies:
  • OPEC+
Tags:
  • markets
  • oil