World oil prices today September 23, 2025: Oil prices fall as Iraq increases exports

World oil prices

Iraq, OPEC's second-largest producer, said it had increased exports under the OPEC+ deal. Oil marketing agency SOMO forecast September shipments of 3.4 million to 3.45 million barrels a day. The move added to pressure on oil prices, which were already under pressure from oversupply concerns.

Brent crude futures fell 55 cents, or 0.8 percent, to $66.13 a barrel. Brent has been trading in the $65.50-$69 range since early August.

In the US, WTI crude for October delivery fell 67 cents, or 1%, to $62.01 a barrel. Both Brent and WTI closed last week down more than 1%, due to concerns about oversupply.

"The global oil market is facing a gradual decline in demand from Q3 to Q4 and a further decline until Q1 2026. At the same time, OPEC+ production is on the rise," said analysts from SEB.

Although tensions have increased in the Middle East as many Western nations recognize a Palestinian state, as well as in Eastern Europe after Estonia said Russian fighter jets entered its airspace without permission on Friday, these events have not caused immediate disruptions to oil supplies.

Both Brent and WTI finished last week down more than 1% on concerns about oversupply and slowing demand. Analysts predict China will play a key role in determining whether oil prices continue to fall to $50.

Iraq has also given preliminary approval to plans to resume oil exports via pipeline from the semi-autonomous Kurdistan region via Türkiye, Reuters reported.

Domestic gasoline prices today September 23, 2025

Domestic retail prices of gasoline on September 23, specifically as follows:

- E5RON92 gasoline: No higher than 19,986 VND/liter

- RON95-III gasoline: No higher than VND 20,608/liter

- Diesel 0.05S: Not higher than 18,705 VND/liter

- Kerosene: Not higher than 18,544 VND/liter

- Mazut oil 180CST 3.5S: Not higher than 15,130 VND/kg

The Ministry of Industry and Trade and the Ministry of Finance have just decided on retail prices of gasoline and oil from 3 p.m. on September 18. Accordingly, gasoline prices increased by more than 200 VND/liter; oil prices increased by 40-176 VND/liter. Specifically, the price of E5RON92 gasoline increased by 208 VND/liter, RON95-III gasoline increased by 208 VND/liter, diesel increased by 62 VND/liter, kerosene increased by 176 VND/liter and mazut increased by 40 VND/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.