Oil prices slip as OPEC+ decides against production hike

Business Nov 04, 2025

Oil prices slipped on Tuesday after OPEC+ decided not to raise production for early 2026.
Brent crude dropped to $64.71 and WTI fell to $60.90, while India's MCX crude futures also saw a small dip.
The move comes as traders keep an eye on global supply and what might happen next.

OPEC+ is bumping up output slightly for December

OPEC+ is bumping up output slightly for December 2025 but pressing pause on more hikes amid uncertainty over US sanctions that could disrupt Russian oil flows soon—especially with key deals ending November 21.
Analysts say these geopolitical twists could shake up oil markets in the coming months, so OPEC+ might need to rethink its plans depending on how things play out with Russia.