Russia-US talks on Ukraine peace deal end without breakthrough Source: CNNCrude oil prices in the global market declined amid expectations of a supply surplus, with ICE Brent crude between October 1 - December 16, 2025 falling by $4.7 per barrel from the previous quarter to average $63.4 per barrel. Additional supply growth from non-OPEC+ producers such as the United States, Brazil, Canada and Guyana further contributed to the imbalance. As a result, the International Energy Agency (IEA) forecasts that global oil supply will exceed demand by 2.3 million barrels per day in 2025 and by 3.8 million barrels per day in 2026. The OECD also revised up its global economic outlook for 2025–2026, citing robust investment in Artificial Intelligence (AI), despite ongoing trade tensions. However, the market continues to closely monitor rising tensions between the United States and Venezuela.

Source: Bangkok Post December 21, 2025 17:25 UTC