Weekly Stability Amid OPEC+ Decisions

Oil prices closed on December 7, 2025, with a slight increase, as Brent crude reached $63.75 per barrel (+0.77%) and West Texas Intermediate (WTI) at $60.08 (+0.69%).

This rise is supported by stalled peace talks in Ukraine, reducing concerns over increased Russian supply. The increase reflects a balance between strong Asian demand and an anticipated global surplus.

On a weekly basis, WTI gained 1.7%, while Brent remained stable, with OPEC+ agreeing to keep production steady until early 2026, providing fundamental support. Saudi Arabia has cut its selling prices to Asia to a five-year low, reflecting oversupply pressures.

Forecasts indicate a decline to $55 in 2026 due to increased non-OPEC production; however, tensions in Venezuela and the Middle East may push prices higher, with the market focused on U.S. Federal Reserve decisions impacting global demand.