{"id":30208,"date":"2025-09-04T08:09:10","date_gmt":"2025-09-04T08:09:10","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=30208"},"modified":"2025-09-04T08:09:10","modified_gmt":"2025-09-04T08:09:10","slug":"oil-slips-as-opec-output-hints-rattle-bulls","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-slips-as-opec-output-hints-rattle-bulls\/","title":{"rendered":"Oil Slips as OPEC+ Output Hints Rattle Bulls"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"573\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/Oil6-1024x573.webp\" alt=\"\" class=\"wp-image-41762\"\/><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>WTI crude fell 1.0%<\/strong> to $63.32; <strong>Brent dipped 0.9%<\/strong> to $66.96<\/li>\n\n\n\n<li><strong>OPEC+ reportedly considering output increase<\/strong> in October, surprising markets<\/li>\n\n\n\n<li><strong>EIA stockpile data due Thursday<\/strong>, could offer clues on U.S. demand<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p>Oil prices extended losses in Thursday\u2019s early session as supply-side jitters re-emerged. West Texas Intermediate dropped 1.0% to $63.32 a barrel, while Brent crude slipped 0.9% to $66.96 \u2014 both benchmarks giving up Wednesday\u2019s gains.<\/p>\n\n\n\n<p>The downturn followed a Reuters report suggesting <strong>OPEC+ may consider easing production curbs<\/strong> further during their upcoming policy meeting.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Exclusive: OPEC+ to consider further oil output hike on Sunday, sources say <a href=\"https:\/\/t.co\/mgibGC5hKr\">https:\/\/t.co\/mgibGC5hKr<\/a> <a href=\"https:\/\/t.co\/mgibGC5hKr\">https:\/\/t.co\/mgibGC5hKr<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1963297237510832247?ref_src=twsrc%5Etfw\">September 3, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>While no official decision has been made, the mere suggestion of extra barrels entering the market was enough to spook traders.<\/p>\n\n\n\n<p>Sentiment remains delicate, especially with the <strong>U.S. Energy Information Administration (EIA)<\/strong> stockpile report due later Thursday.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Oil prices extend losses as OPEC+ considers another output hike <a href=\"https:\/\/t.co\/xWBDlcaowz\">https:\/\/t.co\/xWBDlcaowz<\/a> <a href=\"https:\/\/t.co\/xWBDlcaowz\">https:\/\/t.co\/xWBDlcaowz<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1963492278141423844?ref_src=twsrc%5Etfw\">September 4, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Traders will be watching closely for signs of demand resilience from the world\u2019s top oil consumer, particularly after last week\u2019s surprise inventory build.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<p>Crude oil (CL-OIL) is trading at $63.26, down 0.75% on the day, as it continues to consolidate after a turbulent year. Earlier in 2025, prices dropped sharply to $55.11 in April before surging to $77.90 in July.<\/p>\n\n\n\n<p>Since then, the market has been range-bound, with the 30-day moving average flattening and the shorter-term averages (5, 10) struggling to hold above it, signalling indecision.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/image-5-1024x449.jpg\" alt=\"\" class=\"wp-image-30209\"\/><figcaption class=\"wp-element-caption\">#image_title<\/figcaption><\/figure>\n\n\n\n<p>The MACD shows a mild bullish crossover but remains close to neutral, indicating limited momentum for now. Immediate support is at $60, with stronger backing at $55. Resistance sits at $67, followed by $72.<\/p>\n\n\n\n<p>A breakout above $67 could signal renewed upside momentum, while a drop below $60 would increase the risk of revisiting the yearly low.<\/p>\n\n\n\n<p>For the near term, oil looks set to continue oscillating within this range, with traders closely watching OPEC+ production policy, US inventory data, and global demand signals for the next move.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Cautious Forecast<\/h2>\n\n\n\n<p>Unless OPEC+ walks back supply speculation, crude may remain under pressure into the weekend. A bearish <a href=\"https:\/\/www.eia.gov\/petroleum\/supply\/weekly\/\" target=\"_blank\" rel=\"noopener\" title=\"\">EIA print<\/a> could drive WTI toward the <strong>$60 handle<\/strong>, while any dovish surprise may offer brief reprieve. <a href=\"https:\/\/t.co\/bGhqismFGW\" target=\"_blank\" rel=\"noopener\" title=\"\">All eyes on Vienna<\/a> and on barrels.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Create your live VT Markets account<\/a> and <a href=\"https:\/\/myaccount.vtmarkets.com\/login?_gl=1*5vyjdn*_gcl_au*Njc1MzM0NjY0LjE3NTEzNTM4MTc.*_ga*MjA5ODA0NDIzNC4xNzI3OTE1ODQ1*_ga_J26NL1ZVX7*czE3NTE4NzkxMDYkbzMwOCRnMSR0MTc1MTg3OTExOCRqNDgkbDAkaDA.*_ga_6XQ8153GYW*czE3NTE4NzkxMDgkbzU3JGcxJHQxNzUxODc5MTE4JGo1MCRsMCRoMA..*_ga_BG6LYEHPX1*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMTgkajUwJGwwJGgw*_ga_J8BRGZSREX*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_7CG6454YR5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_69Z54R4H9N*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_CY2VCKFC3C*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjIkajQ2JGwwJGgw*_ga_TXZ07R2C21*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_17TMGY9BBE*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_MWDVVSEVL5*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_2QCC3S2748*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjUkajQzJGwwJGgw*_ga_E7D2PCX624*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_XJ4037XKK6*czE3NTE4NzkxMjYkbzUkZzAkdDE3NTE4NzkxMjYkajYwJGwwJGgw*_ga_EJCVQDC7VT*czE3NTE4NzkxMDgkbzUkZzEkdDE3NTE4NzkxMjYkajQyJGwwJGgw\" target=\"_blank\" rel=\"noopener\" title=\"\">start trading<\/a> now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices slid as traders reacted to reports that OPEC+ may consider lifting supply in October. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":64,"featured_media":41762,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[66],"class_list":["post-30208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-oil"],"acf":{"acf_article_selection_author":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/30208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=30208"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/30208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/41762"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=30208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=30208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=30208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}