Condensation on pipe outside fridge causing a puddle of water?

I have a mini bar fridge that I noticed was leaking big puddles of water. Its a simple fridge with no freezer or water inlet or water dispensor.

On further examination, I found a pipe coated in insulation foam thats cold and wet right above the puddle

Overview of fridge:

Here you can see the black foam pipe thats wet - the loop visible in the picture is the only part thats wet - the rest is dry

It seems to be going from the compressor inside the fridge

Puddle forming right under

What can I do to stop this?