Oil Markets Plummet, Despite Fed Rate Cut & Venezuelan Seizures
Update: 2025-12-12
Description
Oil markets face a downturn despite recent developments, with Brent crude hovering near a two-month low. The International Energy Agency adjusts its forecast, predicting a smaller oil oversupply in 2026. Chinese buyers show strong interest in Saudi Arabian oil, nominating nearly fifty million barrels for purchase. The Trump administration seizes a Venezuelan tanker, and a Gulf lease sale generates three hundred million dollars for the US budget. Meanwhile, Chinas new energy vehicle sales reach a new high, accounting for over fifty-three percent of all vehicle sales last month.
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