Oil prices drop as OPEC considers increasing output

Business Oct 28, 2025

Oil prices just took another hit, dropping for the third day straight—Brent crude is now at $65.58 a barrel, and US West Texas Intermediate sits at $61.22.
The main reason? OPEC is thinking about upping oil production in December, which has traders rethinking their bets even as hopes for a US-China trade deal are still in the mix.

Geopolitical tensions and output increase considerations shake oil market

On top of that, new US sanctions on Russian oil giants Lukoil and Rosneft have led Lukoil to start selling off its international assets.
With OPEC's possible output increase and ongoing geopolitical tensions, the oil market is feeling pretty shaky right now—so don't be surprised if prices keep bouncing around.