# Brent Prices Retreat below $70 as OPEC+ Mulls Another Output Hike | OilPrice.com

> Brent fell below $70 per barrel on Sept 29 as Iraq resumed Kurdistan crude exports to Turkey and OPEC+ was expected to consider another 137,000 bpd November increase. WTI slipped below $65 after Brent had hit $70 on Friday, the highest in nearly two months.

- Date: 2025-09-29 · published 2025-09-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/23042-brent-prices-retreat-below-70-as-opec-mulls-another-output-hike-oilprice-com
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Added Kurdish barrels and expected OPEC+ hikes raise oversupply concerns and push crude lower, which feeds through to energy and biofuel input costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-10-01 | [Oil settles lower as investors brace for possible OPEC+ output hike](https://feedsoft.ai/events/23036-oil-settles-lower-as-investors-brace-for-possible-opec-output-hike.md) | -2.2% | -5.2% |
| BRENT | 2022-11-22 | [Oil prices retreat as investor sentiment darkens](https://feedsoft.ai/events/38849-oil-prices-retreat-as-investor-sentiment-darkens.md) | -5.2% | -8.2% |
| BRENT | 2025-06-01 | [Oil falls as higher OPEC+ output expectations weigh on sentiment](https://feedsoft.ai/events/24838-oil-falls-as-higher-opec-output-expectations-weigh-on-sentiment.md) | +4.9% | +7.0% |
| BRENT | 2025-05-05 | [Barclays cuts 2025, 2026 Brent crude forecast as OPEC+ accelerates output hikes](https://feedsoft.ai/events/24851-barclays-cuts-2025-2026-brent-crude-forecast-as-opec-accelerates-output-hikes.md) | +4.3% | +6.8% |
| BRENT | 2025-09-29 | [Oil Drops as Iraq Resumes Kurdish Exports, OPEC+ Eyes Output Hike](https://feedsoft.ai/events/23052-oil-drops-as-iraq-resumes-kurdish-exports-opec-eyes-output-hike.md) | -7.5% | -6.8% |
| WTI | 2025-10-01 | [Oil settles lower as investors brace for possible OPEC+ output hike](https://feedsoft.ai/events/23036-oil-settles-lower-as-investors-brace-for-possible-opec-output-hike.md) | -1.0% | -3.5% |
| WTI | 2022-11-22 | [Oil prices retreat as investor sentiment darkens](https://feedsoft.ai/events/38849-oil-prices-retreat-as-investor-sentiment-darkens.md) | -2.1% | -4.7% |
| WTI | 2025-06-01 | [Oil falls as higher OPEC+ output expectations weigh on sentiment](https://feedsoft.ai/events/24838-oil-falls-as-higher-opec-output-expectations-weigh-on-sentiment.md) | +6.2% | +7.6% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Crude-Oil/Brent-Prices-Retreat-below-70-as-OPEC-Mulls-Another-Output-Hike.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.