Brent faces oversupply risks in the oil market

Brent prices remain under selling pressure, and the market is strengthening its bearish sentiment amid rising US inventories, with quotes currently at 62.11 USD. Discover more in our analysis for 27 November 2025.

Brent forecast: key trading points

• US commercial crude inventories increased by 2.77 million barrels over the week
• The market is pricing in oversupply risks as production outpaces demand growth
• Rising inventories have added to pressure on oil prices
• Brent forecast for 27 November 2025: 59.20

Fundamental analysis

Brent prices remain under pressure from sellers as the market strengthens its bearish bias amid growing US inventories and expectations ahead of the OPEC+ meeting, currently trading at 62.11 USD.

Brent continues to decline on Thursday. For four consecutive trading sessions, sellers attempted to break below the 62.55 USD support level, but the market managed to defend it.

In November, oil prices recorded their fourth consecutive monthly decline, the longest losing streak since 2023. The market is pricing in the risk of oversupply as production continues to outpace demand growth.

Meanwhile, US commercial crude inventories increased by 2.77 million barrels last week, according to the Department of Energy. Analysts had expected a decrease of about 500 thousand barrels, which added further pressure on prices.

Traders are now awaiting the upcoming OPEC+ meeting this weekend. Market participants expect new signals after the alliance recently paused its planned additional production increase.

Brent technical analysis

Brent prices are declining within a descending channel. Sellers maintain control, having pushed prices below the EMA-65, which confirms bearish pressure.

The Brent price forecast suggests continued decline towards the 59.20 USD target. An additional bearish signal comes from the Stochastic Oscillator, whose signal lines are approaching the resistance line, indicating sustained selling activity.

A consolidation below 60.60 USD will confirm the full development of the bearish momentum.

Summary

Current oil price performance highlights strengthening bearish sentiment and increases the likelihood of further price declines. The Brent forecast indicates persistent selling pressure and a high probability of a move towards 59.20 USD.

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