Oil Prices Record Steepest Annual Plunge Since Covid-19, May Fall Further
Oil markets have recorded their steepest annual fall since the Covid pandemic and could be on track to plummet further as oil producers continue to pump more crude than needed by the global economy. Oil prices slumped by almost 20% in 2025, marking the biggest annual loss since 2020 and the first time that the oil market has recorded three consecutive years of annual losses. On the last day of 2025, the price of Brent crude settled at $60.85 a barrel, down sharply from almost $74 a barrel at the end of 2024. The US oil price also fell 20%…












