This is certainly not favorable news for global oil producers. On the other hand, such low prices are likely to encourage higher oil consumption, which could eventually lead to an increase in prices due to rising demand, especially if production is restricted or quotas are enforced. This could be further influenced by developments toward a resolution or peace agreement between Ukraine and Russia, which may lead Europe to lift its boycott on Russian oil and petroleum products.

Such a move would increase the supply of crude on global markets, forcing OPEC+ to consider new production quotas or potentially causing Brent crude prices to fall to the $50 range. Alternatively, OPEC+ may choose not to intervene, allowing crude prices to drop further, while oil-producing countries turn to international banks for financing, using their substantial oil reserves as collateral. It is neither feasible nor advisable for oil producers to sell their assets at current low prices, making bank loans a more practical option, with the expectation that oil prices will eventually rise. Additionally, producers may be reluctant to increase production levels, particularly U.S. producers, in an effort to push prices upward.

On the other hand, OPEC+ countries cannot fully commit to production quotas, as some members tend to ignore restrictions once oil prices rise by a few U.S. dollars. This remains a major challenge that is difficult, if not impossible, to resolve. The outlook for next year does not appear promising. Brent crude is unlikely to reach $70 per barrel and is expected to hover around $63–$65 at best, unless unforeseen factors emerge that could push prices above 2025 levels.