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Crude oil futures settle lower amid concerns of low demand

15 Oct 2025 Evaluate

Crude oil futures settled lower on Tuesday as investors took a cautious stance after International Energy Agency report predicted low demand for the months ahead. The report has predicted that the oil market is facing a surplus next year of nearly 4 million barrels per day against the backdrop of an output increase by OPEC+ versus a sluggish demand forecast. The agency also lowered its demand growth estimates to around 700,000 barrels per day for 2025 and 2026.

Benchmark crude oil futures for November declined $0.79 or 1.33% at $58.70 a barrel on the New York Mercantile Exchange. Brent crude for December delivery decreased $0.93 or 1.47% to settle at $62.39 a barrel on London's Intercontinental Exchange.

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