Oil Prices May Soften as Oversupply Looms

Global Markets — After a bullish summer driven by China’s stockpiling and supply discipline by OPEC+, oil markets are bracing for a potential downturn. Analysts warn that an expected surge in production from Russia and OPEC members could tip the balance toward oversupply.

The International Energy Agency (IEA) has noted slowing demand growth, raising fears that Brent crude prices could face downward pressure in the final quarter of the year. Energy economists predict volatility ahead, especially if geopolitical tensions in the Middle East ease.