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2025-10-31 16:15:44
[International Oil Prices Expected to Fall for Third Consecutive Monthly Session; Oversupply and Strong Dollar Pressure] ⑴ International oil prices continued their decline on Friday, and are expected to close lower for the third consecutive month. ⑵ Brent crude was at $64.88 per barrel, and WTI crude was at $60.36 per barrel. ⑶ A stronger dollar limited oil price gains. ⑷ Continued production increases by major oil-producing countries offset the impact of Western sanctions against Russia; OPEC+ is inclined to moderately increase production in December. ⑸ Brent and WTI crude are expected to fall by about 3% in October, with supply growth continuing to outpace demand. ⑹ Saudi Arabia's crude oil exports hit a six-month high in August, while US production reached a record 13.6 million barrels per day.
