Global oil prices fell almost 20% in 2025, marking their sharpest annual decline since 2020.
It was also the first time prices recorded three consecutive yearly losses.
Analysts say the drop reflects an oversupplied market, despite conflicts in key producing regions.
Crude oil fell below $60 a barrel for the first time in nearly five years.
The International Energy Agency expects supply to exceed demand by about 3.8m barrels a day.
Members of OPEC delayed production increases, but output remains high.
Brent crude ended the year near $60.85 a barrel, down from about $74 a year earlier.
US crude prices posted a similar fall.
Weak global growth and reduced demand from China have added pressure.
Analysts warn prices could drop into the mid-$50s next year.
Lower oil prices may ease fuel costs and inflation.
However, UK households still face higher energy bills after a cap rise by Ofgem
