Archive · 29 Sep 2025
Oil Prices Plunge as OPEC Plans Output Increase
Oil prices went down because OPEC+, a group of oil-producing countries, plans to increase how much oil they produce in November.
At the same time, oil is starting to flow again from the Kurdistan region in Iraq, adding more oil to the market.
This increase in oil supply is making the price of oil go down.
Last week, oil prices went up due to attacks on Russian oil facilities, but this week's news has reversed that trend.
Oil prices fell by almost 3.5% on Monday.
OPEC+ is planning another oil output increase in November.
The increase is expected to be at least 137,000 barrels per day.
Crude oil exports resumed from Iraq's Kurdistan region.
The resumption could bring up to 230,000 bpd of crude back to international markets.
- Who
- OPEC+ and its allies, Iraq's Kurdistan region
- What
- Oil prices decreased due to OPEC+ output plans and resumption of exports
- When
- Monday
- Where
- N/A
- Why
- OPEC+ aims to increase supply, Kurdistan resumes exports
Supply Increase
Supply Decrease
OPEC Action
Supply Increase
Increase oil production to meet market demands
Supply Decrease
Reduce supply if market fundamentals soften.
- Event
- Oil price decrease
- Oil Price Drop
- 3.5% (Brent) / 3.7% (WTI)
- OPEC+ Action
- Plans output increase in November
- Production Increase
- At least 137,000 barrels per day (bpd)
- Additional Supply
- Resumption of Iraqi Kurdistan exports up to 230,000 bpd
