08:47 AM EDT, 10/20/2025 (MT Newswires) -- Oil price fell early Monday, dropping for the fourth time in five days to the lowest in more than four years as supply rises above demand, pushing up global inventories.

West Texas Intermediate crude oil was last seen down US$0.46 to $57.08 per barrel, the lowest since February, 2021, while December Brent crude was down $0.48 to $60.81.

Rising supply amid slowing demand has the price of the commodity down 20% since the start of the year. The drop comes as OPEC+ ended the return of 2.2-million barrels per day of production cuts in September and began another round of monthly production hikes this month to restore 1.6-million bpd of cuts as it looks to regain market share lost to producers in the United States, Canada and South America.

The production cuts come as the International Energy Agency last week warned global inventories rose by 1.9-million barrels per day above demand in the first nine months of this year and forecast the glut is likely to rise to four-million bpd in 2026, on higher supply as demand is seen up by only 0.7-milllion bpd this year and next.

"Sentiment has weakened on growing signs of an emerging supply glut, with crude held on tankers at sea climbing to its highest level since the pandemic. Ongoing trade tensions and slower Chinese growth have added further pressure, while speculative net long positions in Brent have been cut to a five-month low," Saxo Bank noted.