Crude Awakening: Oil's Slick Slide Continues

https://www.instagram.com/vanessaclarkipaiThis is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.Hello and welcome to Daily Crude Oil Price Tracker. I'm Vanessa Clark, and thank you so much for tuning in today. We're going to break down what's happening in the crude oil market right now and what it means for you.So let's start with the numbers. As of today, November 24th, 2025, crude oil is trading at approximately 57.77 dollars per barrel, down about half a percent from yesterday. If you're tracking West Texas Intermediate, that's our domestic benchmark, we're looking at that same level around 57.79. Meanwhile, Brent crude, which is the global benchmark, is sitting at about 62.60 dollars per barrel, up slightly today.Now here's what's really important to understand about where we are right now. Over the past month alone, crude oil has fallen nearly 6 percent. And if you zoom out to the past year, we're down about 16 percent compared to where we were at this time last year. That's a significant decline, and it tells us something important is happening in the market.The main culprit here is supply. We have a serious oversupply situation. OPEC Plus, which includes Saudi Arabia, Russia, and other major producers, has been gradually unwinding production cuts that they implemented back in April of 2023. In November, they made a 137,000 barrel per day adjustment upward. But here's the thing that's really putting pressure on prices, the United States has hit record crude production levels. We're talking about 13.6 million barrels per day as of late October. The Energy Information Administration has revised those forecasts upward again for both 2025 and 2026.At the same time, global demand just isn't keeping pace. Economic growth concerns are tempering demand worldwide, and that's creating a real imbalance between what's being produced and what's actually being consumed.Looking ahead, the Energy Information Administration is projecting that Brent crude will average 74.31 dollars per barrel for the full year 2025, while West Texas Intermediate is expected to average 70.31 dollars. But here's the catch, after a brief price increase expected in early 2025, the EIA actually forecasts prices to decline from mid 2025 through the end of 2026 as global oil production continues to outpace demand growth.There are some wildcards in play though. Geopolitical tensions, particularly around Russia and Ukraine, and potential developments in the Middle East, could create sudden price spikes. But the underlying trend right now is definitely bearish, meaning prices are under downward pressure.For those of you tracking this market, the key level to watch is that 60 dollar support level. If we break below that, we could see further weakness. On the upside, we've got resistance around 65 dollars where traders might see shorting opportunities if prices try to rally.The bottom line is this. We're in an oversupply environment with weakening demand, and that's putting a cap on how high prices can go. That's your Daily Crude Oil Price Tracker for today. Thank you so much for listening, and please be sure to subscribe and tune in next time for your daily crude oil update.For more http://www.quietplease.aiCheck out Vanessa on Instagram https://www.instagram.com/vanessaclarkipaiFor some deals, check out https://amzn.to/4hSgB4rThis content was created in partnership and with the help of Artificial Intelligence AI

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