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This is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.

Hey there, I'm Vanessa Clark, and welcome back to the Daily Crude Oil Price Tracker. Thanks so much for tuning in today, Tuesday, November 11th, 2025. We've got some really important market developments to talk about, so stick around.

Let's jump right into today's crude oil prices. Brent crude is trading at around 64 dollars and 31 cents per barrel as of today, up slightly from yesterday. It's been hovering in that 64 dollar range, consolidating after a two week decline. We're also tracking WTI crude oil sitting near 60 dollars per barrel. Now, if you're wondering why prices have been under pressure lately, the answer is pretty straightforward: we've got way too much oil in the market right now.

Here's what's happening. The United States has shattered its own crude oil production records, reaching unprecedented levels. We're talking about over 13 point 8 million barrels per day in August 2025, and consistently maintaining figures above 13 point 6 million barrels per day in October. This makes the US the world's leading oil producer, a position it's held since 2018. Combined with OPEC plus countries gradually easing production restrictions and non-OPEC producers increasing output, we've got a globally saturated supply environment putting serious downward pressure on prices.

Now here's what's really important to watch this week. OPEC is releasing its monthly market outlook tomorrow, Wednesday, alongside the International Energy Agency's annual forecast. These reports could set the tone for oil markets in the coming weeks. The IEA is already projecting a record global supply surplus for 2026, which is why the market has been so nervous.

There's also some geopolitical noise affecting sentiment. US sanctions against Russian oil companies are creating uncertainty. Lukoil has declared force majeure on oil supplies from the West Qurna 2 field in Iraq. Plus, President Trump mentioned that India has stopped buying Russian oil, which could shift some trade dynamics.

Looking ahead, many analysts expect downward pressure to persist into 2026. Some forecasters suggest oil might even need to drop to around 50 dollars per barrel to force producers to cut production and rebalance the market. So keep an eye on those OPEC and IEA reports dropping tomorrow. They're going to be crucial.

Thanks so much for joining me on the Daily Crude Oil Price Tracker. I'm Vanessa Clark, and I really appreciate you listening. Be sure to subscribe and tune in next time for more daily updates on crude oil prices and energy market insights. Take care!

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