Baku 19° 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
23:59
Türkiye to sue Meta
Region
23:44
Azerbaijan and Ecuador's Central University discuss cooperation
Foreign policy
23:18
Putin says Russia and Ukraine could reach an agreement
Region
23:09
Zelenskyy says there is no personal animosity between him and Trump
Other countries
22:59
Azerbaijan seeks to expand interparliamentary cooperation with Estonia
Foreign policy
22:47
Azerbaijan raises issue of mine threat and illicit arms trafficking at UN
Foreign policy
22:34
Arda Güler extends contract with Real Madrid
Football
22:20
Media and Broadcasting Council condemns fake news about Azerbaijan in Turkish press
Media
22:15
Azerbaijani FIFA referee Farida Lutfaliyeva appointed to UEFA U-17 Women's EURO qualifiers
Football