Oil falls below $60; markets await OPEC and IEA outlooks

WTI crude futures slipped below $60 per barrel in Asian electronic trade on Tuesday, as investors turned cautious amid fears of a potential global supply surplus. OPEC and the International Energy Agency are set to release key reports on Wednesday, expected to shed light on production and demand trends. Prices have come under pressure as OPEC+, including Russia, eases output curbs while non-OPEC producers ramp up supply. Meanwhile, the dollar index hovered near 99.5 as traders awaited progress on ending the 40-day US government shutdown. On the MCX, November crude oil futures were down 0.5% at ₹5302 per barrel.

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