Baku 20° 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
16:33
Photo
High-level strategic dialogue on Azerbaijan-UN partnership held in Khankandi - Update
Foreign policy
16:32
Azerbaijan's spending on mutton imports from Australia surges nearly 6-fold
Business
16:31
Photo
Azerbaijan, Türkiye and Uzbekistan discuss co-op in social protection
Social security
16:19
Denmark supplies Ukraine with over 50,000 rounds for F-16 cannons
Region
16:17
Azerbaijan approves crime-fighting cooperation agreement with Kyrgyzstan
Other
16:16
Azerbaijan, Poland sign roadmap to expand metrology cooperation
Business
16:11
Video of reception of India's FM posted on Ilham Aliyev's social media accounts
Foreign policy
16:03
KazMunayGas plans to export 1.7 million tons of oil via BTC in 2026
Energy
15:59
Brent reaches nearly $115 - Update-2
Energy