Russians preparing for record low oil prices, says Ukraine's foreign intelligence

Ukraine’s Foreign Intelligence Service has discovered an analytical report by a Russian fund predicting that oil prices will soon fall to US$40-50 per barrel.

Source: Ukraine’s Foreign Intelligence Service

Quote: "Global oil prices at the end of 2025 – early 2026 may fall to US$40-50 for a barrel. Currently, a barrel costs US$66-68, but the market is experiencing a 'new price war'."

Details: The agency suggested that, given current global energy market conditions, OPEC+ is unable to agree on production cuts, contributing to the price decline.

It added that the market is also under pressure from China’s slowing economy and increased oil exports from Brazil, Guyana and Norway.

Background:

• OPEC+ has reached a preliminary agreement to increase oil production by 548,000 barrels per day starting in September, three sources said on Sunday, amid growing concerns over possible supply disruptions related to Russia.
• Oil prices rose by 1% on 7 August, ending a five-day losing streak due to signs of steady demand in the US. The day before, they had fallen following Trump’s comments about "progress in talks with Moscow".

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