Singapore, September 4, 2025 (WAL) – Oil prices declined during Thursday’s trading session amid market anticipation ahead of the OPEC+ alliance meeting scheduled for early next week, with reports indicating a possible discussion on a new production increase.

Brent crude fell by 27 cents, or 0.40%, to reach $67.33 per barrel, while the US West Texas Intermediate (WTI) crude dropped by 28 cents, or 0.44%, to $63.69 per barrel.

This decline comes as investors closely monitor global supply and demand developments, as well as await US inventory data to be released later today by the Energy Information Administration.

Market sources, citing unofficial data from the American Petroleum Institute, reported that US crude oil inventories rose by 622,000 barrels during the week ending August 29, adding pressure on global prices.

Market participants are awaiting the upcoming OPEC+ meeting, amid speculation that the bloc will discuss possible adjustments to production agreements in light of recent crude price fluctuations and changes in the global economic landscape.