Oil prices slip as supply concerns weigh

September 05, 2025 (MLN): Crude oil prices continued their slide on Friday, marking a third consecutive day of losses and ending the week lower for the first time in three weeks, amid growing concerns over supply and a surprise increase in U.S. inventories.

Brent crude futures decreased by $0.28, or 0.42%, to $66.71 per barrel.

West Texas Intermediate (WTI) crude futures tickled down by $0.26, or 0.41%, to $63.22 per barrel by [12:18 PM] PST.

Crude remained under pressure amid concerns over rising OPEC+ output, analysts at ANZ noted in a Friday report.

Market expectations suggest the group may increase production to reclaim market share lost to U.S. shale producers in recent years.

Such a move could signal the unwinding of a second layer of output cuts about 1.65 million barrels per day, or roughly 1.6% of global demand more than a year ahead of schedule.

In the United States, crude stockpiles rose by 2.4m barrels last week as refineries entered seasonal maintenance.

While strong downstream activity has supported prices in recent months, it was warned that refining margins may tighten in the coming months, potentially reducing crude demand.

Global supply risks remain a key factor. U.S. President Donald Trump urged European leaders on Thursday to halt purchases of Russian oil, highlighting the potential for geopolitical developments to push prices higher.

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