Oil Falls More Than 1.5% on Oversupply Concerns

Core Insights - Oil prices have experienced a decline, with Brent crude falling 1.5% to $64.36 per barrel and WTI decreasing 1.6% to $60.77 per barrel, marking a continuation of a four-day downward trend [1] - The primary factor influencing the market remains supply policy, with reports suggesting that OPEC+ may expedite its planned increases in both size and timing, potentially as early as November [1] - Recent data on U.S. crude and gasoline stockpiles indicates weaker demand in the U.S., the world's largest oil consumer, which has contributed to the decline in oil prices [1]