On December 15, Goldman Sachs released a report stating that due to the increase in Global idle production capacity and the expectation of significant oversupply next year, the price differential between Brent oil contracts beyond 2025 seems to be suppressed. Analysts, including Callum Bruce, wrote that neither the current low inventory levels nor the bank's projected oversupply of 0.37 million barrels per day in 2025 can justify the supply surplus priced into the futures curve.