{"id":18587,"date":"2025-10-01T16:34:16","date_gmt":"2025-10-01T20:34:16","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=18587"},"modified":"2025-10-01T16:34:18","modified_gmt":"2025-10-01T20:34:18","slug":"petroleum-daily-report-10-1-2025","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/petroleum-daily-report-10-1-2025\/","title":{"rendered":"Petroleum Daily Report 10-1-2025"},"content":{"rendered":"\n

Oil prices extended their slide to a third straight session, closing at fresh 16-week lows as a U.S. government shutdown heightened worries about global demand and traders braced for more supply from OPEC+.<\/p>\n\n\n\n

Brent crude settled at $65.35, down 68\u00a2 (-1.0%), the lowest close since June 5. U.S. West Texas Intermediate finished at $61.78, down 59\u00a2 (-0.9%), its weakest since May 30.<\/p>\n\n\n\n

The selling was driven by a mix of bearish forces: the shutdown in Washington raised fears of slower U.S. growth, EIA data showed a 1.8 million-barrel crude build versus expectations for a 1 million-barrel rise, and OPEC+ discussions pointed to a possible November output hike of up to 500,000 bpd. Though OPEC called such reports \u201cmisleading,\u201d the group remains on track to raise production next month.<\/p>\n\n\n\n

At the same time, refinery outages in Russia due to Ukrainian drone strikes freed up more crude for export, with September loadings from Russia\u2019s western ports surging 25% from August. Venezuela, too, boosted exports to 1.09 million bpd, the highest since early 2020, adding to oversupply pressures.<\/p>\n\n\n\n

Diamondback Energy\u2019s CEO warned that U.S. shale growth will stall if prices stay near $60, underscoring the squeeze on high-cost producers. Meanwhile, U.S. gasoline futures hit their lowest in nearly a year, reinforcing demand concerns.<\/p>\n\n\n\n

On Mobile? Click here to download the PDF<\/a><\/h3>\n\n\n\n\n\n\n\n
\r\n\t\"Stampede\"\r\n<\/figure>\r\n\r\n\t