# Oil skids on concerns of rising surplus in the first quarter

> Brent fell about 1.2% to $81.26 a barrel and WTI fell 1.7% to $77.04 on November 25, 2021, extending losses for a third session. Traders focused on a possible supply surplus in the first quarter after the coordinated release of strategic crude reserves led by the United States.

- Date: 2021-11-26 · published 2021-11-26T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4774-oil-skids-on-concerns-of-rising-surplus-in-the-first-quarter
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A coordinated reserve release and OPEC panel forecasts of a growing surplus add near-term supply, which tends to weigh on crude prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-01-04 | [OPEC+ decision reflects easing concern of oil surplus, Omicron risk \| Reuters](https://feedsoft.ai/events/43058-opec-decision-reflects-easing-concern-of-oil-surplus-omicron-risk-reuters.md) | +2.8% | +16.0% |
| WTI | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.7% |
| WTI | 2025-09-07 | [Opec+ agrees another rise in oil output for October \| The National](https://feedsoft.ai/events/22772-opec-agrees-another-rise-in-oil-output-for-october-the-national.md) | +1.3% | -1.1% |
| WTI | 2024-09-27 | [Oil settles higher but falls on the week on firmer supply outlook](https://feedsoft.ai/events/28239-oil-settles-higher-but-falls-on-the-week-on-firmer-supply-outlook.md) | +8.9% | +3.5% |
| WTI | 2021-06-22 | [OPEC+ discusses further easing of oil cuts from August -sources \| Reuters](https://feedsoft.ai/events/46494-opec-discusses-further-easing-of-oil-cuts-from-august-sources-reuters.md) | -0.9% | -8.5% |
| BRENT | 2022-01-04 | [OPEC+ decision reflects easing concern of oil surplus, Omicron risk \| Reuters](https://feedsoft.ai/events/43058-opec-decision-reflects-easing-concern-of-oil-surplus-omicron-risk-reuters.md) | +3.3% | +16.7% |
| BRENT | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.4% |
| BRENT | 2020-03-25 | [Can increase the price of sunflower oil - IKAR in Mass Media \| IKAR.ru](https://feedsoft.ai/events/54254-can-increase-the-price-of-sunflower-oil-ikar-in-mass-media-ikar-ru.md) | -28.7% | -35.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/11/26/oil-markets-supply-surplus-concerns.html

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