Demand for oil in the world is growing, but its production is also increasing, due to which the surplus of supply of “black gold” in 2025 will remain for the next two years, according to Logos Press.

Investors and oil traders are closely watching negotiations on a peaceful resolution of the military conflict in Ukraine, which could lead to the lifting of sanctions on Russian oil and an increase in its supply to foreign markets, which could cause a sharp decline in the price of the commodity, Logos Press reported.

According to USDA’s U.S. Department of Agriculture, global wheat reserves for end-use in 2025 have fallen to a level comparable to the corresponding figure for 2015.
