Crude oil prices slip as IEA forecasts production surge

Business Sep 12, 2025

Crude oil prices slipped this Friday after the International Energy Agency (IEA) shared its latest forecast: global oil production is expected to jump by 2.7 million barrels per day in 2025 and another 2.1 million in 2026.
Non-OPEC+ countries—think the US, Brazil, Canada, and Argentina—are set to lead much of this growth.

Price movements in international, Indian markets

Right after the report dropped, oil markets felt it. Brent futures for November fell by 0.74% to $65.88, while WTI futures for October slid by 0.80% to $61.87.
Even on India's Multi Commodity Exchange, September crude futures dipped over 1%.
With supply already hitting record highs in August thanks to OPEC+ tweaks, all signs point to more oil flowing into the market.