Oil headed for its steepest annual loss since the start of the pandemic in 2020, in a year that has been dominated by geopolitical risks and steadily rising supplies across the globe. A punishing surplus is expected to weigh on prices in 2026. Brent steadied above $61 a barrel on Wednesday, with prices down 17% this year. Traders’ near-term focus is on an OPEC+ meeting at the weekend, a bearish US industry report, and President Donald Trump’s policies toward major producers Russia, Iran and Venezuela. M ...