"Oil prices slumped by almost 20% in 2025, marking the biggest annual loss since 2020 and the first time that the oil market has recorded three consecutive years of annual losses. The steady slide in prices has emerged despite ongoing conflict in some of the world's most important energy-producing regions due to a cartoonishly oversupplied market, according to analysts."
"The International Energy Agency expects supplies to outstrip demand for crude by about 3.8m barrels a day this year, even following a recent decision by members of the Opec oil cartel to defer any increase in production until after the first quarter of the year. Opec normally tries to manage the output of its members to keep prices within a Goldilocks range:"
"The market is awash with more crude than global industrial activity can absorb, in part due to weaker than expected economic growth in major economies and the impact of the US president Donald Trump's trade war against China, which has dulled demand from the world's biggest energy importer. Oil producers are expected to continue pumping excess barrels in the year ahead, which could lead prices to lows of $55 a"
Oil prices slumped almost 20% in 2025, the steepest annual fall since 2020 and marking three consecutive years of annual losses. Crude fell below $60 a barrel for the first time in almost five years as political leaders inched towards a Russia-Ukraine peace deal that could increase the glut if western sanctions are lifted on Russian exports. The International Energy Agency expects supplies to outstrip demand by about 3.8m barrels a day this year. Opec deferred any production increase until after the first quarter, but the market remains cartoonishly oversupplied. Weaker economic growth and trade tensions have dulled demand, while producers continue to pump excess barrels, risking further price declines toward $55.
Read at www.theguardian.com
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