The U.S. Energy Information Administration has revealed that global oil supplies exceeded demand in 2025, leading to a sharp decline in oil prices. Monthly average Brent crude oil prices declined from $79 per barrel in January to $63 per barrel in December, the lowest monthly average price since early 2021. Meanwhile, oil prices averaged $69 per barrel in 2025, the lowest in five years even after adjusting for inflation. Oil markets responded to a raft of (mostly) negative catalysts throughout the year. Oil prices fell in the first half of the…