Overview

• Brent hovered around $65–66 a barrel and WTI near $62 early Thursday before later trimming gains in Europe.
• OPEC+ meets Sunday, with sources saying an increase of up to 500,000 barrels per day for November is under consideration.
• G7 finance ministers pledged to tighten pressure on buyers and facilitators of Russian oil, while reports say the U.S. will provide Ukraine with intelligence for strikes on Russian energy infrastructure.
• U.S. crude inventories rose by 1.8 million barrels to 416.5 million last week, pointing to softer refinery runs and demand.
• The International Energy Agency projects a record oversupply next year, though some analysts argue the perceived glut is overstated in the physical market.