Core Viewpoint - Oil prices experienced a decline of over 10% in 2025, with Brent crude oil on track for its longest consecutive annual losses in history due to supply exceeding demand amidst geopolitical tensions, increased tariffs, and OPEC+ production adjustments [1] Group 1: Price Trends - Brent crude oil is heading towards its longest stretch of annual losses ever, indicating a significant downturn in the oil market [1] - The decline in oil prices is attributed to a supply surplus, which has been exacerbated by various global events [1] Group 2: Market Influences - The year 2025 has been characterized by wars and higher tariffs, contributing to the imbalance between supply and demand in the oil market [1] - OPEC+ output adjustments and sanctions have also played a role in shaping the current oil supply landscape [1]