Oil prices are falling due to concerns that OPEC+ will increase supply at their upcoming Sunday meeting. Russian Deputy Prime Minister Alexander Novak stated that OPEC+ will consider the overall situation before deciding on production levels. Delegates from the group have indicated that no decision has been made yet.API data showed a surprise small build in crude inventories, while gasoline stocks decreased and distillates increased. Official DOE data revealed a significant build in crude stocks, a large increase at the Cushing hub, and a substantial draw in gasoline. Commercial crude stocks rose for the first time in three weeks with an addition to the SPR.US crude production remains near record highs despite a drop in rig counts. Algorithmic traders, specifically trend-following commodity trading advisors, have been selling crude, contributing to its decline. These algorithms are expected to sell a significant portion of their holdings soon.WTI crude fell to two-week lows before official inventory data was released. US oil has dropped over 10% this year as OPEC+ increased production targets to regain market share. Non-OPEC+ producers have also ramped up output, while demand concerns have grown due to trade tariffs.This situation has led to predictions of a global oil glut and increased stockpiles. Many investors are waiting for clarity on OPEC's output plans before participating in the market. Analysts foresee an intensifying oversupply in oil markets, with forecasts predicting lower prices for Brent crude in the coming years.