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Oil on Track for Second Weekly Loss as Supply Builds and Prices Face Fresh Pressure

A surprise U.S. stock build reinforced expectations of a developing surplus following Saudi cuts to December Asian prices.

Panamanian-flagged Caribbean Glory vessel with a capacity of 2 million barrels of oil, loads crude oil at a TLU (Tanker Loading Unit) in the Gulf of Morrosquillo, operated by Cenit, owned by Ecopetrol, in Covenas, Colombia October 1, 2025. REUTERS/Nelson Bocanegra
The move marks the first price reduction since October, after prices were left unchanged last month
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Overview

  • Brent and WTI were poised to drop about 2% for the week after three straight daily declines, with a slight rebound in early Friday trading.
  • U.S. crude inventories rose unexpectedly by 5.2 million barrels last week, reviving oversupply fears as gasoline and distillate stocks fell, EIA data showed.
  • OPEC+ approved a 137,000 bpd increase for December and signaled a pause on further hikes in the first quarter of next year after lifting targets by roughly 2.9 million bpd since April.
  • Saudi Aramco reduced December official selling prices for Asia, cutting Arab Light to a $1.00 premium over Oman/Dubai and trimming other grades, a move widely seen as defending market share in a well-supplied region.
  • A stronger dollar and the prolonged U.S. government shutdown weighed on sentiment, while analysts said any support from recent sanctions on Russian firms has started to fade.