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
17:19
Romania's prime minister condemns Russian strike on ship with Azerbaijanis
Other countries
17:17
Photo
German ambassador inspects activities of Azerbaijan's Sumgait Industrial Park
Industry
17:03
EDB becomes co-founder of private equity fund for Central Asia, South Caucasus
Finance
16:54
Rain to continue across Azerbaijan's regions on October 24–25
Ecology
16:48
Photo
Azerbaijan Chamber of Appraisers attends international conference in Vienna
Infrastructure
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