At the close of trading, North Sea Brent crude fell 1.7% to $60.70 per barrel, while West Texas Intermediate (WTI) crude dropped 2% to $57.13 per barrel.
Oil and gas industry experts predict that global oil supply in 2026 will likely remain sufficient, regardless of whether Venezuela – a member of the Organization of Petroleum Exporting Countries (OPEC) – increases its production.
Morgan Stanley suggests the market could face a supply surplus of up to 3 million barrels per day in the first half of 2026. Meanwhile, some economists believe that as the global oversupply situation becomes more apparent, the market could face another short-term drop in oil prices.
The American Petroleum Institute (API) reported that U.S. crude oil inventories fell by 2.77 million barrels last week. Analysts had forecast a rise of approximately 500,000 barrels for the week ending January 2nd.
In its latest Short-Term Energy Outlook (STEO), the U.S. Energy Information Agency (EIA) forecasts Brent crude oil prices to average $55 per barrel in the first quarter of 2026 and remain around that level for the rest of the year. This is a consequence of increased global oil production and low demand during the winter months, factors that are expected to accelerate the accumulation of oil inventories.
Source: https://vtv.vn/gia-dau-the-gioi-lao-doc-100260107085332384.htm
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