Crude oil prices fell 2% on Wednesday after the Organization of Petroleum Exporting Countries (OPEC) left its global oil demand growth forecast unchanged both for 2025 and 2026. Additionally, OPEC signaled in its latest monthly report that the global oil market was oversupplied in the third quarter as the United States surpassed output expectations. West Texas Intermediate (WTI) for December’s settlements declined by 2.08% at 9:15 am ET to $59.71 per barrel. Meanwhile, Brent for deliveries in January decreased by 2.04% a minute later, going for $63.84 per barrel.