28 Oct 2025
🛢️ WTI Slips Toward $61 as OPEC+ Plans Another Output Hike
West Texas Intermediate (WTI) crude eased to around $61.15 in Tuesday’s Asian session as sellers stepped in ahead of the upcoming OPEC+ meeting. Reports suggest the alliance is preparing to raise production by another 137,000 barrels per day in December, signaling a cautious but steady output increase.
This potential supply boost is weighing on crude prices in the short term, though geopolitical tensions and renewed U.S. sanctions on Russian oil majors Rosneft and Lukoil could help cushion further downside.
On the macro front, hopes for progress in U.S.–China trade talks are also in focus. Treasury Secretary Scott Bessent indicated that a framework deal could soon remove looming tariff threats and finalize TikTok’s U.S. sale. A confirmed meeting between Trump and Xi Jinping later this week in South Korea could offer a bullish spark for demand sentiment if talks go well.
For now, traders are watching the $61.00 handle as key short-term support. A sustained break below could expose $60.20, while recovery above $62.00 may open the way toward $63.50.
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