Oil Prices Post Weekly Gains Amid Russia-Ukraine Negotiations and OPEC+ Decision
London, UK – December 6, 2025
Oil prices posted weekly gains amid anticipation of Russia-Ukraine negotiations
Global oil prices performed strongly at the end of the week, achieving moderate weekly gains.
This was primarily supported by cautious optimism in the markets regarding the ability of the OPEC+ alliance to manage supply, as well as anticipation of the latest developments in the ongoing negotiations between Russia and Ukraine, which directly impact the stability of European supplies.
The price of Brent crude, the main global benchmark, surpassed $63 per barrel, while West Texas Intermediate (WTI) crude followed suit, recording similar levels.
These weekly gains came after markets largely absorbed the OPEC+ alliance’s decision, announced earlier in December 2025, to suspend planned production increases for the first three months of 2026.
The aim of this decision was to stabilize oil prices and prevent any sharp decline in value that might result from the anticipated seasonal slowdown in demand, particularly in Asian markets.
This move boosted investor confidence in the alliance’s ability to enforce supply discipline and provide a minimum level of support for prices.
However, the market remains influenced by US inventories, which showed an unexpected increase last week, preventing oil prices from making further gains.
The second factor influencing oil price trading is the ongoing geopolitical developments, particularly the negotiations between the warring parties in Eastern Europe.
Analysts expect that any breakthrough in these negotiations could lead to a smoother return of Russian energy flows to Western markets, potentially easing inflationary pressures in Europe, but at the same time, it could exert downward pressure on global oil prices.
Therefore, traders are closely monitoring leaders’ statements, as any indication of de-escalation or escalation is immediately reflected in energy markets.
Amid these volatile developments, the IMF expects volatility to remain a key feature of the global energy market as we enter 2026.
Key Highlights of the Report:
Gains Recorded:
Oil prices posted moderate weekly gains, with Brent crude surpassing $63 per barrel.
OPEC+ Support:
The OPEC+ alliance’s decision to suspend planned production increases during the first quarter of 2026 boosted market confidence and supported prices.
Geopolitical Anticipation:
Markets are cautiously awaiting the latest developments in negotiations between Russia and Ukraine, which could impact supply chains and inflationary pressures in Europe.
US Inventories:
An unexpected rise in US inventories is limiting the potential for significant price increases at present.
Expected Volatility:
Forecasts indicate that volatility will remain the defining characteristic of the energy market as we begin the new year of 2026.
