Global News of the Oil, Gas, and Energy Sector as of December 22, 2025: Oil, Gas, LNG, Renewable Energy, Coal, Oil Products, and Key Trends in the Global Fuel and Energy Complex. Analytics for Investors and Market Participants.
The global fuel and energy complex (FEC) is undergoing significant changes that are being closely monitored by investors and market participants. Oil prices have fallen to their lowest levels in the past four years amid an oversupply and geopolitical uncertainty. Europe is entering winter with comfortable natural gas reserves (storage is filled to over 90%) thanks to a record import of LNG, stabilizing the market and gas prices. Simultaneously, the energy sector is rapidly transitioning to renewable sources: in 2025, a record growth in renewable energy generation was recorded, placing the coal industry before the prospect of gradually declining demand. Below are the key news and trends in the fuel and energy complex as of December 22, 2025.
Oil Prices and OPEC+ Strategy
The oil market is experiencing a price decline: benchmark Brent crude hovers around $60 per barrel, marking the lowest level since 2021. The main reasons are fears of oversupply and seasonal demand weakening at the start of the year. In response, the OPEC+ alliance agreed to a minor increase in production for December (+137,000 barrels per day) and decided to suspend further production increases in the first quarter of 2026 to prevent oversupply. Additional uncertainty has been created by new Western sanctions against major Russian oil companies, complicating export growth from Russia.
- Supply Increase: Since April 2025, OPEC+ has gradually increased production (totaling ~2.9 million barrels/day), leading to excess oil volumes in the market amid stable demand.
- Seasonal Factor: The beginning of the year is traditionally characterized by lower consumption of oil and oil products, increasing pressure on prices during this period.
- Geopolitics and Sanctions: Sanction restrictions against several oil-producing countries remain in place, keeping part of the supply off the market and creating uncertainty.
In conditions of increased volatility, oil and fuel companies are striving to respond quickly to market changes. Digital tools come to their aid; for instance, the "Open Oil Market" platform allows real-time tracking of oil and oil product quotes, helping investors make quicker decisions in the market.
The Natural Gas and LNG Market
The European gas market has entered the winter season relatively stable. Underground gas storage across the EU is over 90% full, reducing the risks of shortages even in case of colder weather. Active imports of liquefied natural gas (LNG) have compensated for the sharp reduction in pipeline supplies from Russia. Gas prices in Europe have stabilized at levels significantly below the peaks of 2022, easing the cost pressures on industry and consumers.
- Record LNG Imports: In 2025, Europe imported about 284 billion cubic meters of LNG, breaking the previous record. The key supplier became the USA (accounting for up to 60% of the volume), alongside Qatar and other exporters.
- Phasing Out Russian Gas: The EU is formalizing plans to fully stop imports of Russian gas by 2027. From the start of 2026, a ban on purchasing Russian LNG on the spot market will come into effect, forcing EU countries to pivot to alternative sources.
On a global scale, demand for gas remains stable due to Asian markets; however, competition among suppliers is intensifying. Countries in the Middle East and North Africa are investing in LNG projects, hoping to carve out a niche in the growing market. At the same time, an increase in gas exports from the USA and Australia is creating an oversupply, keeping prices within moderate bounds.
Renewable Energy: Record Growth
The year 2025 has been landmark for renewable energy. Unprecedented additions of new capacities for solar and wind power plants have been observed globally. According to industry reports, in the first half of 2025, the volumes of installed solar and wind capacities grew by over 60% compared to the same period last year. For the first time in history, electricity generation from renewable sources exceeded that from coal power plants in a six-month period. This rapid development of green generation is occurring against the backdrop of massive investments: approximately $2 trillion has been invested in clean energy globally in 2025. Nevertheless, despite record growth rates, this is still insufficient to meet climate goals—further investments and upgrades to electrical grids are required.
China's success is particularly noteworthy; it has become a locomotive of the energy transition. By adding hundreds of gigawatts of new solar and wind capacity, China was able to curb CO2 emission growth in 2025 while still increasing electricity consumption. China's experience demonstrates that significant investments in renewables can simultaneously meet the growing demand for electricity while reducing the carbon footprint.
Coal Sector: Peak Demand
Global coal demand hit a historical maximum in 2025, although growth rates have slowed to a minimum. According to the International Energy Agency (IEA), global coal consumption increased by only 0.5% to around 8.85 billion tons—a record volume, after which a prolonged plateau and gradual decline is forecasted by 2030. Coal remains the largest fuel for electricity generation worldwide, but its share has begun to shrink due to competition from alternative energy sources.
Regional trends vary. In China, the largest consumer of coal (around half of global consumption), demand stabilized in 2025, with a gradual decline expected by the end of the decade alongside the introduction of new renewable capacity. In India, due to record hydroelectric production, a temporary reduction in coal usage has been recorded for the first time in many years. In the US, a slight increase in coal burning has been noted amid high gas prices and government support for the extension of coal-fired power plants. All these factors confirm that the peak of global coal demand is near, and future dynamics will depend on the pace of the energy transition in the largest economies.
Oil Products and Refining: High Margins
The oil products market at the end of 2025 exhibits high profitability for refiners. Global refining margin indicators ("crack spreads") have risen to multi-year highs. The reasons include sanctions (which have reduced oil product exports from Russia), the closure and maintenance of several major refineries in Europe and the US, as well as delays in bringing new refining capacities online in the Middle East and Africa. Particularly profitable remains the European diesel segment: the diesel refining margin in Europe has surged to levels unseen since 2023, indicating a structural deficit of this fuel.
In response, refineries are maximizing throughput to take advantage of favorable market conditions. Major oil companies have reported sharp profit increases in the downstream segment (refining and sales) in recent quarters due to high gasoline and diesel prices. According to the IEA, European refineries boosted oil throughput by several hundred thousand barrels per day in the second half of 2025 thanks to high margins. Analysts note that without new capacities coming online in Europe and North America, fuel shortages may persist, maintaining high margin indicators into 2026.
Geopolitics and Sanctions: Market Impact
Geopolitical factors continue to have a significant impact on commodity markets. Sanction regimes pertaining to the oil and gas sector remain active, and their strict adherence is confirmed by recent events. In December, the US intercepted an oil tanker off the coast of Venezuela, stopping an attempt to circumvent sanctions. Simultaneously, the US has intensified pressure on the "shadow fleet" transporting Iranian oil: despite new restrictions, exports from Iran reached their highest levels in recent years due to shipments to Asia. Russian oil and oil product exports have been redirected to alternative markets (China, India, the Middle East), but price caps and EU sanctions continue to cut into industry revenues. The European Union is also tightening restrictive measures: in addition to the oil embargo, a ban on the import of Russian LNG will come into effect in early 2026, effectively completing Europe's exit from energy resources from Russia.
Against this backdrop, market participants are pricing in elevated geopolitical risks and price premiums. Any signals of potential easing of sanctions or diplomatic progress can significantly influence investor sentiment. For now, oil and gas companies are adapting to the new structure of flows and prices—diversifying logistics and seeking opportunities in regions less affected by sanctions.
Investments and Projects: A Forward Look
Despite market volatility, massive investments in energy continue worldwide. Countries in the Middle East are increasing their investments in oil and gas production: national companies are expanding production capacities to maintain market share in the long term. In particular, in the UAE, ADNOC secured financing of around $11 billion for projects to increase gas production. Simultaneously, leading exporters (Qatar, USA) are implementing projects to expand LNG terminals, anticipating an increase in global demand for blue fuel.
Significant funds are also directed towards clean energy. Global investments in renewable sources continue to grow: corporations are investing in solar and wind parks as well as energy storage infrastructure. Nonetheless, achieving decarbonization goals will require even greater efforts and resources. New technologies—such as hydrogen energy and energy storage systems—are becoming increasingly attractive investment avenues. It is expected that 2026 will bring new mergers and acquisitions within the industry, along with the launch of large projects both in the traditional oil and gas sector and in renewable energy.
