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fromLondon Business News | Londonlovesbusiness.com
6 days ago

Oil prices lower as 2026 oversupply fears overshadow OPEC+ production decisions - London Business News | Londonlovesbusiness.com

WTI crude oil futures retreated below USD 61 per barrel on Tuesday, as persistent oversupply fears overshadowed recent OPEC+ policy decisions. Forecasts of a significant global surplus by 2026, potentially as high as 4 million barrels per day, could continue to weigh on sentiment and push prices lower. Surging output from non-OPEC+ producers, including the United States, Brazil, and Canada, could drive the expected supply glut.
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