# Crude Oil Prices Rise on Supply Concerns Despite OPEC's Sixth Demand Forecast Cut

> Domestic crude prices in India rose on November 4, 2026 after a US strike on Iran's Qeshm Island and stalled negotiations. US Strategic Petroleum Reserve stocks fell to 282.2 million barrels, the lowest since 1982, and Goldman Sachs raised its December Brent forecast to $105.

- Date: 2026-11-04 · published 2026-11-04T15:07:53.913Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/79892-crude-oil-prices-rise-on-supply-concerns-despite-opec-s-sixth-demand-forecast
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Low SPR stocks and a higher bank forecast point to a firmer crude outlook, which raises diesel and energy costs for feed producers. The price path depends on whether the Iran talks progress.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-08-29 | [Oil prices climb on OPEC supply cut prospect, rise in demand](https://feedsoft.ai/events/40197-oil-prices-climb-on-opec-supply-cut-prospect-rise-in-demand.md) | -7.9% | -15.7% |
| BRENT | 2021-04-27 | [Here's What Causes Oil Prices To Rise Despite Lingering Concerns On Indian Demand](https://feedsoft.ai/events/47760-here-s-what-causes-oil-prices-to-rise-despite-lingering-concerns-on-indian.md) | +3.2% | +4.5% |
| BRENT | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.0% | +6.9% |
| BRENT | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -5.7% | -24.9% |
| BRENT | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | +0.0% | +2.2% |
| WTI | 2022-08-29 | [Oil prices climb on OPEC supply cut prospect, rise in demand](https://feedsoft.ai/events/40197-oil-prices-climb-on-opec-supply-cut-prospect-rise-in-demand.md) | -6.7% | -17.6% |
| WTI | 2021-04-27 | [Here's What Causes Oil Prices To Rise Despite Lingering Concerns On Indian Demand](https://feedsoft.ai/events/47760-here-s-what-causes-oil-prices-to-rise-despite-lingering-concerns-on-indian.md) | +4.0% | +6.6% |
| WTI | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.8% | +6.7% |

## Sources

- apacnewsnetwork.com: https://apacnewsnetwork.com/2026/11/crude-oil-prices-rise-supply-concerns-opec-demand-cut/

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