OIL & USD - Markets & outlook
Brent Crude Oil - OIL:
October 2, 2025
Key Developments Affecting the Oil Market:
1. OPEC+ Considers Significant Output Increase for November 2025
- OPEC+ is contemplating a substantial rise in oil production, potentially up to 500,000 barrels per day, to reclaim market share. A final decision is expected at the upcoming meeting on October 5. (reuters.com)
2. Goldman Sachs Forecasts 140,000 bpd Quota Hike for November
- Goldman Sachs anticipates OPEC+ will increase oil production quotas by 140,000 barrels per day for November 2025, citing modest gains in OECD commercial oil stocks and declining Russian oil production. (reuters.com)
3. U.S. Government Shutdown Raises Economic Concerns
- The U.S. government entered its 15th shutdown since 1981, expected to disrupt major functions and economic data releases, potentially impacting global oil demand. (reuters.com)
4. Iran Threatens to Block the Strait of Hormuz
- In response to U.S. airstrikes on Iranian nuclear sites, Iran's Parliament voted to close the Strait of Hormuz, a critical passage for global oil shipments. A final decision rests with Iran’s Supreme National Security Council. (en.wikipedia.org)
