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2025-12-16 13:13:28
[Dubai Crude Oil Forward Curve Turns Negative, Intensifying Global Oil Supply Oversupply Pressure] 1. The forward curve for Dubai crude oil, a benchmark for Middle Eastern crude, has weakened rapidly recently. The spread between the January and February contracts fell to -$2 per barrel in early trading on Tuesday, exhibiting a deep futures premium structure. This change indicates intensified market concerns about the recent supply glut, becoming another clear signal of a global oil supply glut. 2. Affected by increased crude oil production, the market is generally worried that the oversupply situation will continue. The International Energy Agency predicts a significant oversupply in 2026. This sentiment has dragged down major global oil prices, with Brent crude futures prices currently under pressure near the $50 per barrel level. As a key pricing benchmark for Asian traders and refiners, the changes in the market structure of Dubai crude directly reflect the current supply pressure facing the global crude oil market.
