Brent Oil Prices May Slip Below $60 Amid OPEC+ Warning and Growing Supply Glut Concerns
ByAinvest
Thursday, Nov 13, 2025 11:29 pm ET1min read
Brent crude prices have fallen nearly 4% to near $62 per barrel after OPEC+ warned of a supply glut. Peter McGuire, CEO of Australia-Trading.com, expects Brent to break below $60 and potentially reach $57-$58, while WTI could drift towards $55-$56. McGuire believes that US production is a bigger threat to OPEC+ policy shifts and warns that prices may only bounce on geopolitical shocks.
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