Crude oil price today October 8, 2025: Slight decrease amid concerns about excess supply

In the trading session on October 8, world crude oil prices fell slightly after OPEC+ decided to increase production at a lower level than forecast. Brent crude oil prices fell 0.6% to 65.08 USD/barrel; US WTI crude oil fell 0.62% to 61.31 USD/barrel.

Analysts said the market is still watching global oil inventories, especially those stored on ships. Some preliminary data from India also showed a strong increase in fuel demand in September, helping to rebalance the supply-demand outlook.

The OPEC+ group of oil exporters and Russia has decided to increase production by 137,000 barrels per day from November. This figure is lower than investors' forecasts, showing that the group is still acting cautiously against the risk of oversupply in the fourth quarter of 2025 and next year.

In the previous session, oil prices increased by more than 1% thanks to this information, when investors assessed that OPEC+ still prioritized market stability instead of boosting exploitation.

According to India's Petroleum Planning and Analysis Cell (PPAC), the country's fuel demand in September increased by 7% compared to the same period last year, a positive signal for the outlook for oil consumption in Asia.

However, JPMorgan's report showed that total global oil reserves, including oil stored at sea, increased continuously throughout September, adding about 123 million barrels. At the same time, China continued to expand the scale of strategic reserves, keeping global supply at high levels.

Despite the prevailing bearish trend, several geopolitical factors are keeping crude oil prices stable. The conflict between Russia and Ukraine continues to impact energy markets, especially after the drone attack on Russia’s Kirishi refinery on October 4.

The fire forced the main distillation plant to shut down for at least a month, disrupting refined oil supplies from Russia, according to industry sources.

Experts believe that crude oil prices will fluctuate around the $60-$65/barrel range in the short term. Although demand recovers in some major markets, pressure from excess supply and high reserves may continue to limit the price recovery in the fourth quarter of 2025.

In that context, every move from OPEC+, China and the political situation in Eastern Europe will be the deciding factors for oil price trends in the coming time.

Source: https://baonghean.vn/gia-dau-tho-hom-nay-8-10-2025-giam-nhe-giua-lo-ngai-nguon-cung-du-thua-10307832.html