- November 24, 2025
- 11:37 am
- Brief news
After a sharp weekly decline, oil prices have stabilized. The market is closely monitoring the possibility of a peace deal between Ukraine and Russia — a factor that could change the export balance and increase the impact on the raw materials segment. This is reported by Bloomberg.
Brent is holding above $62 per barrel, while WTI is trading around $58. Meanwhile, the month closes with the fourth consecutive decline — the longest downward cycle since 2023 and simultaneously an indicator of pressure on the sector.
The main driver of the decline is the increase in production, primarily within OPEC+. The International Energy Agency records a steady surplus of supply and forecasts a record oil surplus in 2026. Such a background may set a low price corridor for a long time.
Geopolitical signals have no less influence. The discussion of peace terms for Ukraine creates the possibility of easing the sanctions regime against Russia and expanding its exports. Westpac Banking Corp analyst Robert Rennie believes that in the event of a deal, the global surplus of raw materials will increase, and Brent will not rise above $65 in the near future.
The situation in the Middle East also remains in the focus of traders. Israel eliminated the chief of staff of Hezbollah in Beirut, adding risks of regional escalation. Despite this, signs of stabilization are noticeable in the market: the spread between the nearest WTI contracts has narrowed to 25 cents per barrel, indicating a leveling of supply and demand.
OPEC+ is preparing for a meeting on November 30 to adjust the approach to production. Some capacities have already been restored, but the cartel signals a possible pause in production expansion in the first quarter of 2026. The end of the year promises to be tense: any political or economic decision can change the balance of power in the oil industry, which is already being discussed by analysts and industry media, including “NAnews — News of Israel | Nikk.Agency“.
