Oil slips as Kurdistan exports restart; OPEC+ eyes fresh output hike - trading takeaways (29 Sep 2025)

Why it matters

Brent fell to $69.79 and WTI to $65.29 as Iraq’s Kurdistan region restarted exports (≈180,000–190,000 bpd now, with scope toward ≈230,000 bpd), while OPEC+ is expected to add at least 137,000 bpd in November. More supply = softer crude benchmarks near term.

Winners

Refiners (better crack spreads as crude feedstock gets cheaper)

• $VLO, $MPC, $PSX - Lower input costs can widen gasoline/diesel margins even if pump prices drift down, supporting utilization and cash flow. Softer Brent/WTI from Kurdistan restart and prospective OPEC+ hikes are the catalyst.

Airlines (fuel is the biggest variable cost)

• $DAL, $UAL, $AAL - Jet-fuel tracks  ...