Brent crude oil futures fell about 1% to roughly $60.4 a barrel on Friday as concerns over a growing global supply surplus outweighed escalating geopolitical risks. With oil demand entering a seasonal slowdown, OPEC+ is signaling caution, and key producers led by Saudi Arabia are expected to reaffirm a pause in supply increases for the first quarter at a meeting on January 4. Oil prices weakened through 2025 as OPEC+ and non-OPEC producers such as the US and Guyana raised output while demand growth cooled. The International Energy Agency forecasts a surplus of about 3.8 million barrels per day this year, limiting the price impact of supply disruptions.