Oil Prices Edge Lower Amid Rising Supply Concerns

Crude oil prices dipped on September 30, 2025, as markets weighed a mix of rising supply and subdued demand. Brent crude traded at $66.13 per barrel, down 0.94% from the previous close of $66.76, while West Texas Intermediate (WTI) also fell, reflecting investor caution amid market uncertainty.

Supply-side pressures continue to shape sentiment. OPEC+ is expected to approve an additional output increase of around 137,000 barrels per day in its upcoming meeting, adding to concerns about oversupply. The resumption of oil exports from the Kurdistan region of Iraq, halted for over two years, is also contributing additional volume to the market.

Geopolitical developments remain a key factor. Russia has partially restricted diesel exports and expanded gasoline export bans, creating potential disruption in global supply and adding an element of volatility to crude markets.

On the demand front, global oil consumption is projected to grow modestly by just 0.7 million barrels per day in 2025, reflecting slower economic activity and cautious energy use worldwide.

Trading activity has been subdued, with Brent prices moving within a daily range of $65.64 to $66.84 per barrel. This limited volatility reflects investor hesitancy as markets await clearer signals from OPEC+ decisions and global economic indicators.

Looking ahead, oil prices are expected to remain under pressure in the near term, though geopolitical risks could trigger short-term spikes, keeping traders vigilant for rapid market shifts.