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Oct 03, 2025
Energy markets cautious before OPEC+ meeting
U.S. crude oil stabilizes at $60.92 within a narrow range
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Crude oil prices witnessed a slight decline today, Tuesday, October 3, 2025, as U.S. West Texas Intermediate crude settled at $60.92 per barrel, amid continued pressures from weak global demand and rising concerns about an economic slowdown. Investors are closely anticipating this week's highly anticipated OPEC+ meeting, which could bring significant decisions regarding production levels in the coming period. Forecasts suggest that the organization and its allies may opt to extend a cautious production policy in an attempt to balance price support with maintaining market share. |
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On the other hand, concerns about supply remain, especially with the modest decline in U.S. inventory levels, although weak industrial activity in major economies is putting pressure on demand forecasts.
Outlook
From a technical standpoint, if oil manages to stabilize above the $61.50 level, this may pave the way for an upward movement toward $63.20. However, in the event of a break below the $60 support level, crude may face further pressure toward $58.80.