Oil and Gas Stocks Week Ahead: Crude Near $60, Venezuela Crackdown Risks, and an EIA Data Delay Reset the Energy Trade
Brent crude settled at $60.47 a barrel and U.S. WTI at $56.66 on Friday, December 19, capping a down week despite a late rebound linked to Venezuela and Russia-Ukraine headlines. Oversupply concerns intensified, with “oil on water” inventories up 30% since August and forecasts showing supply could outpace demand by 3.85 million barrels per day in 2026. The U.S. EIA’s weekly oil report is delayed until December 29.