Oil Falls as OPEC+ Plans Small Output Rise

Oil prices slipped with WTI near $60 a barrel and Brent around $64–65, set for a third consecutive monthly decline as a stronger dollar and rising supply weighed on markets. OPEC+ is expected to confirm a modest December output boost of roughly 137,000 bpd after a series of monthly increases totaling more than 2.7 million bpd, while Saudi exports rose to six‑month highs and tanker volumes hit a record 1.4 billion barrels, adding to oversupply concerns. U.S. production reached a record 13.6 million bpd and inventory data were mixed, leaving analysts to expect supply growth to outpace demand this year. U.S. sanctions on Rosneft and Lukoil could curb Russian exports short term and raise transaction costs, but enforcement waivers, sanctions‑circumvention networks and operational factors including weather may limit longer‑term disruption. Traders are also watching the Trump‑Xi meeting for its potential impact on Chinese purchases of U.S. energy and Russian crude, while Fed‑rate expectations and a strong dollar continue to cap commodity gains.