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总结
多家媒体报道，国际原油市场在2025年年末走弱，油价录得自新冠疫情冲击后的2020年以来最陡的年度跌幅。市场主要担忧供给端可能出现过剩、库存压力上升以及需求前景不确定，导致交易情绪偏谨慎。油价下行可能对产油国财政与油气企业盈利预期造成压力，同时也会影响全球通胀路径与相关资产定价。
正文
Oil prices record steepest annual fall since Covid pandemic The Guardian Oil Heads for Deepest Annual Loss Since 2020 on Surplus Concerns Bloomberg.com Oil markets close 2025 in retreat as glut fears grow Baton Rouge Business Report Crude Oil: The Rumors Of Its Death Are Greatly Exaggerated Seeking Alpha Oil set for biggest annual drop since 2020 KSL.com
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