In a sharp market reaction to OPEC+’s latest supply outlook, global crude prices tumbled nearly 4%, with Brent hovering near $62 per barrel. talking to ET Now, Peter McGuire, CEO of Australia-Trading.com, says the sell-off signals growing conviction that a supply glut is building — and crude may break below the psychological $60 mark sooner than expected. OPEC+ sparks sell-off with glut warning The OPEC+ assessment of an oversupplied market triggered aggressive selling across crude benchmarks.