Reported 4 days ago
A recent Reuters survey indicates that oil prices will remain constrained around $70 per barrel in 2025 due to weak demand from China and rising global supplies. Analysts predict Brent crude will average $74.33 per barrel, down from previous estimates, while U.S. crude is expected to average $70.86. The market is anticipated to be in surplus, driven by increased production from non-OPEC countries. Although a recovery in China is expected, a shift to electric vehicles may curtail demand growth.
Source: YAHOO