Crude oil price today October 9, 2025: Slight increase thanks to OPEC+ limiting production increase

In the trading session on October 9, Brent oil price increased by 0.8% to 65.98 USD/barrel, while US WTI oil increased by nearly 0.9% to 62.27 USD/barrel.

Previously, both key oil grades were almost flat, as investors weighed the risk of a global supply glut and a lower-than-expected decision from OPEC+ to increase production.

Crude oil price today October 9, 2025: Slight increase thanks to OPEC+ limiting production increase

According to Reuters sources, OPEC+ including the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia agreed to increase production by only 137,000 barrels/day in November, lower than initial expectations.

This “light tightening” decision is considered to help oil prices gain more momentum, although not strong enough to create a clear recovery.

Despite OPEC+ curbing production growth, concerns about oversupply persist. Global oil inventories could rise by 1.5 million barrels per day in the fourth quarter of 2025, and the surplus could reach 2 million barrels per day between the fourth quarter of 2025 and the fourth quarter of 2026, according to Goldman Sachs.

However, the bank still forecasts that oil prices could recover if Russian oil production declines more sharply than expected, especially when the country is suffering heavy damage from Ukrainian drone attacks on oil refineries.

Besides, investors are also waiting for the US crude oil inventory report from the Energy Information Administration (EIA).

Preliminary data from the American Petroleum Institute (API) showed that US crude oil inventories rose by 2.78 million barrels in the week ended October 3, while gasoline and distillate inventories fell, reflecting a trend of energy consumption remaining stable at high levels.

Interfax news agency quoted Russian Deputy Prime Minister Alexander Novak as saying that Russia is gradually increasing oil production and is close to the committed quota in OPEC+.

However, the Russian energy industry still faces many difficulties due to continuous attacks on oil and gas infrastructure, affecting production and export capacity.

Crude oil prices are in a tug-of-war as supply increases more slowly than expected but inventories remain high. Experts say that if demand recovers more strongly later in the year and Russia experiences further production disruptions, oil prices could rebound, giving new momentum to the global energy market.

Source: https://baonghean.vn/gia-dau-tho-hom-nay-9-10-2025-tang-nhe-nho-opec-han-che-tang-san-luong-10307884.html