# Week in Review - Oil Prices Trend Lower Following Recovery in Middle East Exports

> The IEA now expects global oil supply to exceed demand in Q4 2026 by about 1.7 million bpd, reversing its earlier deficit forecast. OPEC+ output reached 41.23 million bpd in October, about 2.04 million bpd above September, as Gulf producers moved crude through ship-to-ship transfers and expanded pipelines.

- Date: 2026-11-13 · published 2026-11-14T06:08:38.175Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/99025-week-in-review-oil-prices-trend-lower-following-recovery-in-middle-east-exports
- 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

A shift to surplus from recovering Middle East exports pushes crude and diesel lower, reducing energy and freight costs for feed makers while easing the energy-linked support for biofuel feedstocks.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-08-28 | [Dollar Strength and Increased Middle East Oil Flows Weigh on Crude Prices](https://feedsoft.ai/events/18056-dollar-strength-and-increased-middle-east-oil-flows-weigh-on-crude-prices.md) | +9.2% | +13.1% |
| WTI | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.2% | -3.8% |
| WTI | 2018-10-31 | [Lower Oil Prices: Canadian Dollar Hits 7-Week Low \| Investors King](https://feedsoft.ai/events/62781-lower-oil-prices-canadian-dollar-hits-7-week-low-investors-king.md) | -6.0% | -24.2% |
| WTI | 2018-12-20 | [Oil demand flashes red, sending crude prices even lower](https://feedsoft.ai/events/11080-oil-demand-flashes-red-sending-crude-prices-even-lower.md) | -6.7% | +12.5% |
| WTI | 2025-09-30 | [Oil Prices Extend Losses On Growing Oversupply Fears](https://feedsoft.ai/events/23040-oil-prices-extend-losses-on-growing-oversupply-fears.md) | -2.8% | -3.3% |
| BRENT | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.5% | -2.4% |
| BRENT | 2018-12-20 | [Oil demand flashes red, sending crude prices even lower](https://feedsoft.ai/events/11080-oil-demand-flashes-red-sending-crude-prices-even-lower.md) | -8.1% | +10.6% |
| BRENT | 2025-09-30 | [Oil Prices Extend Losses On Growing Oversupply Fears](https://feedsoft.ai/events/23040-oil-prices-extend-losses-on-growing-oversupply-fears.md) | -3.2% | -4.3% |

## Sources

- mansfield.energy: https://mansfield.energy/2026/11/13/week-in-review-oil-prices-trend-lower-following-recovery-in-middle-east-exports/

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