Reported about 23 hours ago
Bank of America analysts predict that oil prices will average $65 per barrel in 2025 due to an oversupply of crude and slowing demand, particularly from China, as countries transition towards cleaner energy. The increased oil production from the US and other nations, coupled with OPEC+'s desire to expand supply, suggests that high price shocks like those seen during the Russia-Ukraine conflict are unlikely. The report indicates a significant shift in the oil market dynamics as demand diminishes.
Source: YAHOO