World News
Crude Futures Slide on Report of Potential OPEC+ Output Increase
Wednesday September 3, 2025
Crude futures dropped on Wednesday morning after a report that OPEC+ members are considering an increase to production quotas.
Eight OPEC+ members are considering increasing output for October at a meeting scheduled for September 7, news agency Reuters reported on Wednesday, citing two sources familiar with the discussions.
No final decision has been made, and the meeting may decide on a pause in production increases instead, according to the report.
ICE November Brent futures traded at $68.06/bl as of 10:48 AM in London, down from $69.14/bl at the previous day's close.
Planned increases in OPEC+ production are driving expectations of significantly lower prices for crude next year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.50 | 5.50 | 670.50 | 10.50 |
| Rotterdam | 478.50 | 3.00 | 664.00 | 5.50 |
| Houston | 493.50 | 3.50 | 661.00 | 1.50 |
| Fujairah | 509.00 | 1.00 | 736.50 | 2.50 |
| Global 20 Ports Average | 534.50 | 1.00 | 751.00 | 3.50 |
| Global 4 Ports Average | 498.00 | 1.00 | 683.00 | 4.50 |
| Global Average Bunker Price | 571.00 | 1.50 | 795.50 | 3.00 |
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