The International Energy Agency (IEA) is forecasting an oversupply on the oil market for 2025. The reason for this is the planned expansion in production, while demand growth is slowing down. Rising capacities in the USA and countries such as Brazil and Guyana in particular could push supply above the level of global demand. According to the IEA, these developments could stabilize oil prices or even put them under pressure.

Personal opinion:

The election of Donald Trump is also a big factor that could put a lot of pressure on oil prices. With the oil price already weak, Trump has announced that he will boost oil production during his candidacy. To me, that sounds more like oil prices will continue to fall.

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Source:

https://www.reuters.com/business/energy/iea-sees-2025-oil-market-supply-surplus-2024-11-14/

The news is based on what I personally consider to be reputable sources. However, I do not guarantee their accuracy. No advice.