World oil price today September 30, 2025: Down nearly 2% due to supply recovery
World oil prices today September 30, 2025: World oil prices fell nearly 2% as OPEC+ prepared to increase production and Iraqi Kurdistan resumed exports to Türkiye.
Brent crude fell $1.26 to $68.87 a barrel on September 30, a 1.8% decline. US WTI crude also lost $1.36, or 2%, to $64.36 a barrel. Both crudes had closed the week up more than 4%, their highest since late July.
OPEC+ is likely to approve a plan to raise production by at least 137,000 barrels per day in November. The recent rise in oil prices has encouraged the group to seek to regain market share.
However, actual OPEC+ output is still about 500,000 barrels per day lower than the target, causing the market to not show a clear oversupply situation.
Iraq announced over the weekend that it had resumed oil exports from the Kurdistan region to Türkiye after a 2.5-year suspension. The flow is currently around 150,000-160,000 barrels per day and is expected to increase to 230,000 barrels per day in the coming time, adding a significant supply to the international market.
Despite the improved supply, the war situation has continued to weigh on oil prices. Last week, Ukrainian drone attacks disrupted Russian fuel exports, helping to push prices higher.
In contrast, Russia has just carried out one of the largest airstrikes on the capital Kyiv since the beginning of the conflict in 2022, increasing geopolitical risks.
