OPEC’s Surprise Output Hike Leaves Oil Prices Steady – But Glut Fears Loom
OPEC+ agreed on Oct. 5, 2025, to raise crude output by 137,000 barrels per day in November, matching October’s increase. Brent crude held near $65.5 per barrel after the announcement, while U.S. WTI hovered around $61.7. The decision followed internal disputes, with Russia favoring a smaller hike and Saudi Arabia pushing for more. Analysts warn of a potential oil surplus by late 2025 as supply rises and demand growth slows.