{"id":15675,"date":"2025-10-07T10:28:14","date_gmt":"2025-10-07T10:28:14","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=15675"},"modified":"2025-10-07T10:28:14","modified_gmt":"2025-10-07T10:28:14","slug":"world-crude-oil-prices-today-october-07-2025-brent-oil-price-fell-to-65-32-cents","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/15675\/","title":{"rendered":"World crude oil prices today, October 07, 2025 \/ Brent oil price fell to $65.32 cents"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Oil prices were steady on Tuesday as investors assessed a smaller-than-expected November output hike by OPEC+ against the backdrop of oversupply expectations.<\/p>\n

Brent crude futures fell 15 cents, or 0.23%, to $65.32 a barrel by 0742 GMT. U.S. West Texas Intermediate crude shed 17 cents, or 0.28%, to $61.52.<\/p>\n

Both contracts settled up more than 1% in the previous session after the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers – known as OPEC+ – decided to increase its collective oil production by 137,000 barrels per day, starting in November.<\/p>\n

The move was in contrast to market expectations for a more aggressive reintroduction of supply, a sign that the group remains cautious about increasing its production share in the global oil market amid predictions of a supply surplus in the fourth quarter as well as next year, said ING analysts.<\/p>\n

“Brent had fallen by around $5 per barrel last week in response to earlier expectations of a larger supply boost, so this mild rebound seems reasonable,” said Anh Pham, a senior analyst at LSEG.<\/p>\n

“For now, the market still appears capable of accommodating the extra volume, and we have yet to see a shift into contango at the front of the curve.”<\/p>\n

OPEC+ did not discuss increasing quotas after November, Russian Deputy Prime Minister Alexander Novak said on Tuesday.<\/p>\n

OPEC+ has increased its oil output targets by more than 2.7 million bpd this year, equivalent to about 2.5% of global demand.<\/p>\n

Geopolitical factors have kept a floor under prices, with conflict between Russia and Ukraine affecting energy assets and creating uncertainty over Russian crude supply.<\/p>\n

Russia’s Kirishi oil refinery halted its most productive distillation unit following a drone attack and subsequent fire on October 4, with recovery likely to take about a month, two industry sources said on Monday.<\/p>\n

Updated on