Oil prices fell on Asian exchanges on November 11 as concerns about excess supply outweighed uncertainty about the impact of US sanctions on Russian oil giants "Rosneft" and "Lukoil", Reuters reports, quoted by Focus.
Brent crude futures fell 12 cents, or 0.2%, to $63.94 a barrel. US West Texas Intermediate crude costs $59.99 a barrel – down 14 cents, or 0.2 percent.
Both indices rose about 40 cents yesterday, the agency said.
While progress toward a government reopening has generally supported markets, concerns about a crude glut have held back prices.
"As OPEC production continues to rise, the global oil balance is increasingly supply-side and demand continues to decline amid slowing economic growth in major consumer countries,“ analysts at consultancy Ritterbusch and Associates said in a note.
Earlier this month, OPEC+ agreed to raise its December output target by 137,000 barrels per day, the same as in October and November.
At the same time, the group agreed to halt output increases in the first quarter of next year.
Link to main version
Nov 11, 2025 12:53 225
Steadily down! Oil prices fall amid US sanctions on Russia's Rosneft and Lukoil
Earlier this month, OPEC+ agreed to increase production targets for December by 137,000 barrels per day, as well as in October and November
Снимка: БГНЕС/ЕРА