Oil Companies Produced Oversupply
According to analysis by the U.S. Energy Information Administration, worldwide crude oil production in 2025 yielded an oversupply and caused the price of that oil to fall approximately 20 percent.
For details: https://www.eia.gov/todayinenergy/detail.php?id=66944&utm
For context: https://www.unepfi.org/themes/climate-change/climate-risks-in-the-oil-and-gas-sector/