Baku 22° C
Oil prices fall on fears of oversupply in market
Energy
- 21 October, 2025
- 10:10
Add Report.az to preferred Google sources
Stay up to date with the top news!
Oil prices continued to decline on Tuesday amid growing concerns about a global supply glut, Report informs referring to trading data.
The price of December Brent crude futures on London's ICE Futures exchange was $60.93 per barrel, down $0.08 (0.13%) from the previous close.
WTI crude futures for December in electronic trading on the New York Mercantile Exchange (NYMEX) fell $0.08 (0.14%) to $56.94 per barrel.
OPEC+ countries have been steadily increasing production in recent months, as have a number of non-OPEC+ countries. The increase in production comes amid weakening demand, and experts believe the global supply glut may reach 4 million barrels per day early next year.
Author
Latest News
18:00
AI rapidly improving, could vastly boost US GDP, Anthropic's Clark tells policymakers
Other countries
17:55
'Choice now rests with US,' Iran's Araghchi says on peace negotiations
Other countries
17:33
Egypt's Sisi says his presidency will end in 2030
Other countries
17:14
Ramin Mammadov mulls Azerbaijan's experience in tolerance sphere while in US
Foreign policy
16:50
Hacker gets data on millions of California students
Other countries
16:29
Photo
Gunel Badalova elected Vice President of International Ski Mountaineering Federation
Individual sports
16:12
Yemeni government forces say they repel lengthy Houthi attacks in Taiz
Other countries
15:50
Video
Military pilots from Azerbaijan, UAE successfully complete their objectives as part of joint exercises
Military
15:25
Photo
AzerGold participates in 6th Rebuild Garabagh exhibition
Industry