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Commodity News Details
Energy Market Review: Slips below $59 as oversupply fears hit sentiment; eyes on OPEC+ meeting
29-Nov-2025 14:09
WTI crude slipped under $59 per barrel on Friday, ending the week down by more than 0.7% and heading for a fourth straight monthly loss as oversupply concerns kept global sentiment uneasy. President Putin's remarks supporting President Trump's Ukraine plan raised hopes of a breakthrough that could eventually lift sanctions on Russian crude, potentially adding more supply to the market. Traders now look to Sunday's virtual OPEC+ meeting, where output increases are expected to stay paused while the group evaluates long-term capacity. A weaker dollar, with the index falling below 100 for the week, helped cushion the downside, while MCX December crude futures closed slightly higher at ₹5327 per barrel. Next week's US PCE inflation, industrial production and labor data, along with global PMIs and key GDP releases, will guide crude demand expectations, keeping oil markets on alert.

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