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Indonesia News Portal for Traders | Financial & Business Updates

7 November 2025 08:24  |

Brent Oil Rebounds in Asia, OPEC+ Holds Back Production and China Increases Imports

Brent prices rose this morning after several fundamental signals emerged that gave hope that the oil market might find medium-term support. First, the OPEC+ producer bloc announced that it would halt new production additions for the first quarter of 2026, in response to projections of global oversupply. This decision, which signaled a halt to further production expansion despite the continued increase in December quotas, boosted sentiment by easing oversupply pressure.

However, this morning's gains could still be vulnerable due to persistent headwinds: global supply remains high and demand growth is expected to be slow. (mrv)

The price of Brent oil at the time of writing was $63.68

 

- Buy if the price moves within the $63.73 range

- Sell if the price moves within the $63.63 range

 

Resistance 2: $63.95

Resistance 1: $63.80

 

Support 1: $63.55

Support 2: $63.40

 

Disclaimer:

This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.

Source: Newsmaker.id

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