Oil Hesitation, Shutdown Issues & OPEC+ Make Market Uneasy
World oil prices are currently trading around $69,488 per barrel on Monday morning (September 29, 2025), still moving at low levels following selling pressure from last weekend. Market participants are beginning to reconsider the global demand outlook amid economic uncertainty, including a potential US government shutdown and signs of slowing energy consumption in China.
On the supply side, the market is also awaiting a decision by OPEC+ on a possible production increase in November. Although a small increase was previously scheduled, speculation is rife that the increase could be larger than initially planned. Pressure from these two directions demand uncertainty and a potential supply surge makes oil prices vulnerable to short-term corrections. (ads)
The Brent oil price at the time of writing was $69.48
- Buy if the price moves within the $69.53 range
- Sell if the price moves within the $69.43 range
Resistance 2: $69.64
Resistance 1: $69.58
Support 1: $69.38
Support 2: $69.33
Disclaimer:
This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
