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Barchart
Barchart
Rich Asplund

Crude Prices Decline on Expectations of a Record Global Oil Surplus

Oil United States OPEC IEA International Energy Agency Donald Trump EIA ISIS Nigeria

February WTI crude oil (CLG26) today is down -0.61 (-1.06%), and February RBOB gasoline (RBG26) is down -0.0253 (-1.48%).

Crude oil and gasoline prices tumbled to 2-week lows today on expectations for a record global supply surplus.  Both the International Energy Agency (IEA) and the US government see global production exceeding consumption, from a 4-year high in 2025 to a record this year.  

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