Discussing crude oil prices with Cătălin Deacu on Banii azi, Eugenia Gusilov noted that Brent reached $75/bbl and WTI hit $70/bbl, levels below end-of-year forecasts. The market was caught off guard by a spectacular surge in US production, reaching a record high of 13.2 mb/d this autumn.

This unexpected success of American oil producers counteracted part of the production cuts implemented by OPEC+. Meanwhile, China consumed less diesel in the construction sector, goods manufacturing, and international air traffic.

These two factors created an unexpected market surplus, reflecting in lower prices that also benefit consumers in Romania.