全球石油_月度机构数据快照_年初波动，供应过剩仍存-Global Oil_ Monthly Agency Data Snapshot_ Noisy start to the year, surplus intact

ab 26 January 2026 Global Research Global Oil: Monthly Agency Data Snapshot Noisy start to the year, surplus intact Crude rebounds, risk still to the downside, if no further disruption Oil prices have traded in a $7/bbl range so far this year, buffeted by geopolitical developments. Brent has for now rebounded into the mid-$60s on risks around Iran and disruptions in Kazakstan. In the absence of further disruptions, we still see risk to the downside in the near-term as fundamentals still point to a sizable s ...