Reported 18 days ago
Vitol's CEO Russell Hardy forecasts global oil prices to remain between $70 and $80 per barrel in 2025, similar to 2024, due to geopolitical risks impacting supply. While worries about OPEC+ supply cuts and fluctuating demand from China persist, Hardy believes it's premature to assume an oversupply in the market. Increased vulnerabilities regarding Iranian and Venezuelan exports could affect Chinese oil imports, while demand growth in China and India is anticipated to influence pricing.
Source: YAHOO