Chevron Corporation

If OPEC fails to replace Venezuela's embargo-affected oil exports, the impact of the embargo could be $5-8 per barrel, says a former U.S. State Department diplomat 

Oil rises after Trump orders blockade of tankers off Venezuela's shores

Shell plc

BP p.l.c.

Exxon Mobil Corporation

Peace progress in Ukraine could reduce risks to Russia's supply of commodities

Oil has fallen in price by almost 3% over the day. Brent has the weakest annual dynamics since 2020

Benchmark grade cheaper amid fresh hopes for peace in Ukraine

Brent crude oil price falls below $60 per barrel - first time since Ma 

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 

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

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.