Economy Politics Country 2025-11-02T07:07:35+00:00

Oil Prices Drop Amid OPEC+ and Venezuela Tensions

Oil prices fell for Brent and WTI in October. Markets are closely watching the upcoming OPEC+ decision and US military activity off the Venezuelan coast, which will determine further oil price dynamics in early November.


In October, the two main benchmark crude oils, Brent and West Texas Intermediate, fell by 2.6% and 2% respectively. The markets are awaiting an OPEC+ decision, as well as US military movements off the coast of Venezuela, to determine the direction of prices at the beginning of November.