# Oil prices fall on supply glut fears despite OPEC+ output cut extension

> Oil prices fell more than 1% on Friday, extending weekly losses amid concerns about a supply glut despite OPEC+ extending output cuts. Brent settled at $71.12 and WTI at $67.20.

- Date: 2025-01-01 · published 2025-01-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27117-oil-prices-fall-on-supply-glut-fears-despite-opec-output-cut-extension
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Supply glut fears push crude lower, easing diesel and transport costs for feed buyers while pressuring biofuel-linked oilseed demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-dip-extended-opec-supply-cuts-highlight-weak-demand-2024-12-06/

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