US EditionOil prices log steepest annual drop since 2020
Oil benchmarks Brent and WTI fell about 18–20% in 2025 as supply surged from OPEC+ and non-OPEC producers amid tariff concerns and slowing demand, analysts said.
- On the first trading day of 2026, Brent crude futures climbed 14 cents to $60.99 and U.S. West Texas Intermediate crude rose 14 cents to $57.56 after last year’s biggest annual loss since 2020.
- Kyiv's intensified strikes and U.S. measures pressured supply flows, as Ukrainian drones targeted Russian oil facilities and Washington on Wednesday sanctioned four companies and associated oil tankers.
- The EIA reported that crude stocks fell last week while gasoline and distillate inventories rose, and U.S. production hit a record 13.87 million barrels per day in October.
- The U.S. blockade is straining Venezuela's PDVSA operations, forcing it to adopt extreme solutions to avoid shutting refining units as residual fuel inventories build up.
- Brent closed a third straight year of losses, the longest streak on record, as Brent and WTI benchmarks recorded annual losses of nearly 20% in 2025 amid oversupply and tariff concerns.
57 Articles
57 Articles
Oil prices rose moderately on the first trading day of 2026 after last year brought the biggest annual losses since 2020.
Oil prices saw biggest annual drop since 2020
LONDON/NEW YORK — Oil prices were little changed on New Year's Eve as they headed for a double-digit fall for 2025, as expectations of oversupply increased in a year marked by wars, higher tariffs, increased OPEC+ output and sanctions on…
Oil prices dropped on Wednesday and accumulated a loss of more than 15 percent in 2025, due to concerns over excess supply in a year marked by wars, rising tariffs, OPEC+ production, and sanctions on Russia, Iran, and Venezuela. Brent crude futures fell by 17 percent in 2025, their largest annual percentage decline since 2020, and a third consecutive year of losses, the longest bassist streak in its history. US crude West Texas Intermediate was …
Oil barrels toward its worst annual performance since the pandemic as Russia feels the pain
Russian President Vladimir Putin.Roscongress Press Service/Anadolu/Getty ImagesOil prices are barreling toward their worst year since the Covid crash.A flood of non-OPEC supply and cooling demand has knocked crude prices down about 20%.Russia is feeling the squeeze as low prices and sanctions hammer oil revenues and growth.Oil prices are on track for their steepest annual drop since the Covid-era crash in 2020, battered by fears of a deepening s…
The Star Kuala Lumpur
Oil slips as Brent heads for longest stretch of annual losses in 2025
SINGAPORE: Oil prices slipped more than 10% in 2025, with Brent heading for its longest stretch of annual losses ever, as supply outpaced demand in a year marked by wars, higher tariffs and OPEC+ output and sanctions on Russia, Iran and Venezuela.
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