The prices of oil They fell on Tuesday, affected by the perspective of an imbalance between the supply and demand for crude.
The price of the Brent barrel of the North Sea for delivery in October lost 1.66% to $ 67.64. Its American equivalent, the barrel of West Texas Intermediate, for delivery in September, fell 1.70% to $ 65.16.
“This is a convergence of bearish factors related to the concerns about demand,” summed up in dialogue with the AFP Stephen Schork, by The Schork Group.
The market considers that “the world supply could exceed the demand towards the end of the year, which could cause an inventory accumulation,” said John Plassard, an analyst of Cité Management. This is especially due to recent increases in the production quotas of the organization of oil exporting countries and its allies (OPEC+).
Riad, Moscow and six other cartel members announced an increase in their “production of 547,000 barrels per day in September 2025 compared to the production level” planned in August.
Another point of concern about demand, according to Schork, is that the market faced “a series of bad news” on the economic level, particularly in the United States, the largest oil consumer on the planet.
Last Friday, official figures showed a deterioration of the US labor market in recent months.
The activity in the services also decreased in July, to a lower level than anticipated by analysts, according to the index published Tuesday by the ISM Professional Federation.
The operators, on the other hand, ignored the new threats of the US president against India, on a possible increase in the additional 25% tariff that plans to implement against the country.
Trump reproaches New Delhi buying “large amounts of Russian oil” and not worrying “about the number of people who are killed in Ukraine for Russian war machinery.”
Recommended video
