OPEC maintained its previous forecast for global oil supply and demand in 2026, expecting the market to be balanced. This goes against widespread forecasts of oversupply, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-12-11/opec-data-point-to-balanced-global-oil-market-in-2026?">notes</a>.

OPEC expects a "balanced" oil market in 2026 - contrary to Wall Street predictions

If China reduces the rate of oil purchases, this "super surplus" will come even sooner

A major oil trader has warned of a "super surplus" of crude in 2026

Oil prices fell by about 2% in trading on November 25 amid signs of progress on a peace plan between Ukraine and Russia. Brent crude futures were down 2% to $62, while West Texas Intermediate (WTI) fell almost 2.6% to $57.

Oil cheaper by 2% amid progress on peace plan work

Bank analysts expect the market to voluntarily cut production to support prices

JPMorgan warned of a possible oil price drop to $30 in 2027 

BP p.l.c.

Shell plc

Exxon Mobil Corporation

The cost of contracts for delivery of Mark Brent oil with execution in January declined at the auction on November 21 by more than 2%: the price fell below $62 per barrel, follows from the <a href="https://www.ice.com/products/219/Brent-Crude-Futures/data?marketId=5884693&amp;span=1">data of</a> the Intercontinental Exchange. WTI futures also fell by more than 2% to $57.4 per barrel.

Oil price falls 2% amid talks on plan to end Ukraine war

Global oil demand will grow longer than expected, says Goldman Sachs

Oil price jumps after attack on major Russian export terminal

The Energy Agency may worsen Russia's oil production forecast for 2026 after details emerge about the application of sanctions and schemes to circumvent them

IEA warns of global risks due to US sanctions against Russian oil

Chevron Corporation

The cost of Brent crude oil collapsed by almost 4% in trading on November 12 due to the forecast of OPEC, which allowed the possibility of oversupply of raw materials on the market. On the other hand, the International Energy Agency said that demand for oil and gas may continue to grow until 2050 - contrary to past expectations.

The price of Brent crude oil collapsed by almost 4%. OPEC forecast reinforced fears of oversupply

He expects a barrel of Mark Brent to cost $60 in the first half of 2026

Morgan Stanley raises oil price forecast due to OPEC+ pause in production increase

For the first time in his second term, Trump targeted Russia's biggest oil producers with sanctions

"One call will turn everything 180 degrees": what the oil market thinks about US sanctions

A reduction in the intensity of Russia's conflict against Ukraine could send oil prices down to $50 a barrel, Eric Lee, senior commodities strategist at Citigroup, <a href="https://www.bloomberg.com/news/articles/2025-10-17/oil-risks-drop-to-50-on-russia-ukraine-de-escalation-citi-says">said</a> in an interview with Bloomberg.

Oil may fall to $50 if Russia-Ukraine conflict de-escalates - Citigroup

NVIDIA Corporation

Ferrari N.V.

General Motors Company

Gold gained ground above $4,000 an ounce for the first time and silver rose to its highest since 1980 as investors seek refuge in precious metals. Nvidia shares hit an all-time high thanks to the authorization to export chips to the UAE. Tesla and GM unveiled budget versions of their electric cars, Ferrari's financial forecast disappointed investors. Emmanuel Macron reappointed Lecorneuil as France's prime minister late Friday night. About the main events from October 6 to 10 - in our review.