Crude drifts lower despite OPEC+ output plans – BBH
Source Fxstreet
Crude Oil prices slip as OPEC+ halts early 2026 output increases, while a growing global surplus keeps downward pressure on the market, BBH FX analysts report.
OPEC+ approves 137k bpd December boost
"Crude Oil prices are drifting lower despite OPEC+ plans to pause output hikes next year. OPEC+ matched expectations and agreed to raise output by 137k barrels a day in December. Beyond December, OPEC+ unexpectedly decided to pause the increase in crude Oil production in the first three months of 2026."
"The widening glut in crude Oil remains a major headwind for crude Oil prices. According to the IEA, global Oil balances have seen a 1.9 mb/d surplus since the start of the year and are expected to reach a record surplus of 3.3 mb/d in 2026."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
XRP Spot ETFs Notch 30 Straight Days of Inflows, Bucking Wider Crypto TrendSince their debut on November 13, U.S.-listed spot exchange-traded funds (ETFs) for XRP have recorded net inflows for 30 consecutive trading days, a steady performance that stands in contrast to the more volatile flows seen in larger bitcoin and ether funds.
Since their debut on November 13, U.S.-listed spot exchange-traded funds (ETFs) for XRP have recorded net inflows for 30 consecutive trading days, a steady performance that stands in contrast to the more volatile flows seen in larger bitcoin and ether funds.
Most Asian markets fell on Monday, led by declining technology shares amid weak U.S. earnings guidance. Chinese stocks showed relative resilience, but wider economic fears suggest increased stimulus pressures.
The U.S. dollar fell to multi-month lows against major currencies after the Federal Reserve’s dovish outlook and a significant rise in jobless claims. The Swiss franc gained support from steady interest rates.
Bitcoin Falls Below $90,000 as AI Profit Fears Sour Risk SentimentBitcoin retreated below the $90,000 level on Thursday, extending a broader cryptocurrency sell-off as fresh concerns over the profitability of artificial intelligence investments weighed on technology stocks and dampened investor appetite for risk.
Bitcoin retreated below the $90,000 level on Thursday, extending a broader cryptocurrency sell-off as fresh concerns over the profitability of artificial intelligence investments weighed on technology stocks and dampened investor appetite for risk.
Oracle's Weak Earnings Prompt Concerns Over AI Spending, Pressuring Nvidia and Industry RivalsOracle's disappointing earnings and soaring expenses have raised fears about AI spending sustainability, causing Nvidia and other related stocks to decline amidst heightened competition and concerns over mounting debt.
Oracle's disappointing earnings and soaring expenses have raised fears about AI spending sustainability, causing Nvidia and other related stocks to decline amidst heightened competition and concerns over mounting debt.
Related Instrument
