Oil Market Rollercoaster: Cushing Dips, Global Supply Looms
Update: 2025-10-08
Description
Oil prices jumped on news of a supply drop at a key Oklahoma storage hub, but don't expect a lasting surge. Despite the dip at Cushing, national crude inventories remain near typical lows, and global supplies are robust. OPEC+ is boosting production, U.S. output is set to peak, and Russian exports are surging. Experts predict Brent crude will likely stay between $65 and $70, with potential drops to $56 by 2026 due to a projected global surplus. Short-term bumps are overshadowed by ample worldwide supply.
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