(MENAFN- The Rio Times) In the early hours of November 3, 2025, global oil markets stirred with cautious optimism. Brent crude, the international benchmark, ticked up to $65.20 per barrel-a 0.73% gain-while its American counterpart, West Texas Intermediate (WTI), rose 0.74% to $61.38.

This subtle rebound caps a week of tense fluctuations, where prices dipped early under the weight of abundant supplies before stabilizing on hints of restraint from major producers.

The immediate trigger? OPEC+, the alliance of oil-exporting nations, wisely chose to freeze planned production hikes for early 2026, prioritizing stability over flooding the market further.

Despite a small increase of 137,000 barrels per day set for December, this pause counters fears of oversupply during a season when stockpiles typically swell.

Over the past seven days, Brent hovered between $64.40 and $65.62, netting a 0.5% weekly rise, while WTI ranged from $60.15 to $61.31, up 0.3%. Overnight gains built on weekend deliberations, reflecting traders' relief at measured steps amid uncertainty.



Beneath the surface lies a deeper tale of competing forces shaping our energy future. America's shale heartland, particularly the Permian Basin, powers ahead with record output at 13.6 million barrels daily, showcasing innovative efficiency that bolsters global resilience.

Yet, this surge clashes with sluggish demand, especially in Asia. China's economy, burdened by policies that stifle dynamic growth-evident in a 5.7% drop in steel consumption-forecasts only modest oil needs, mainly for petrochemicals.

Elsewhere, Russian blends like Urals falter under sanctions, and Venezuelan pacts unravel amid political turbulence, disrupting regional flows.

Middle Eastern benchmarks, such as Oman's, saw prices cut to $65.06, signaling weak Asian appetite, while African projects like Mozambique's LNG revival promise future abundance.

Fundamentals paint a mixed picture: U.S. inventories linger 4% below averages, hinting at surplus risks, with non-OPEC growth adding 340,000 barrels daily next year.

Technical charts underscore vulnerability-a long-term downtrend persists, though short-term supports at $58-60 for WTI and $63-65 for Brent could spark recoveries.

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