West Texas Intermediate (WTI) crude plunged below $62 per barrel on November 26, 2025—settling at $61.61 after a 0.2% intraday skid—as Iraq’s Kurdistan region resumed exports via the Turkey pipeline at 185,000 bpd, the first in 2.5 years, compounding OPEC+ November hike approvals and signaling 440 kb/d monthly supply surge to 108.2 mb/d. This deluge—up 6.2 mb/d since January—eclipses demand’s 790 kb/d 2025 gain, per IEA, with Dated Brent’s four-month slide to $60 mid-November (now $65 rebound) underscoring oversupply specter amid U.S. sanctions curbing Russia’s Rosneft/Lukoil by 200 kb/d.
WTI’s double-bottom at $57.14 support—per FXDailyReport—hints reversal, but channel descent targets $61.61 lows, with RSI at 45 neutral yet bearish bias intact. Iraq’s SOMO ramp-up, post-cabinet nod, follows interim deadlock break, adding 1% to global glut fears; Reuters notes Brent/WTI’s 3% August-sharpest drop since, eyeing first monthly dip since November on tariff truce delays and Ukraine peace whispers easing Russian curbs. U.S. rig counts down 5% YoY to 580 bolster non-OPEC+ gains (3.1 mb/d 2025), but China’s 1.2 mb/d import dip caps upside.
Technicals tilt slide: 50-day SMA at $63.00 caps rallies, targeting $60 if breached, per LiteFinance’s $57.863 forecast. Bull counters: Middle East flares (Iraq-Turkey pact) and Trump’s Venezuela pressure could trim 500 kb/d, per OilPrice.com. WTI oil slides Iraq flows 2025 ramifications ripple: U.S. shale’s 120 kb/d expansion clashes with Baghdad’s bounty, projecting $12 billion domestic budget strain if below $75 Dubai average, per NESDC.
For crude connoisseurs in WTI Iraq flows November 2025, this slip is seismic: Kurdistan’s comeback catalyzes caution, with IEA’s 83.6 mb/d refinery runs (up 710 kb/d) demanding balance amid 2.5 mb/d 2026 supply swell. As pumpjacks pause in Permian dusk, WTI’s woes whisper warnings—flows flood fundamentals, where supply surges script not scarcity, but surplus sagas in oil’s oversupplied odyssey.
