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Meanwhile, BofA analysis shows prices could drop to an average of $65 per barrel in 2025, particularly if the Organization of Petroleum Exporting Countries (OPEC) decides to bring barrels back ...
The bank said oil prices could go as high as $120 per barrel in the first quarter of 2025, implying a 62% increase. Brent crude , the international benchmark, traded around $73.48 a barrel around ...
Other forecasters have also made bearish calls, with price forecasts as low as $50 a barrel. The oil market is headed into a troubled year in 2025, and crude prices may fall "much, much" lower ...
The second full week of 2025 was the fourth week that the price of oil increased, with Brent finishing up 1.3 percent at $80.79 and WTI up 1.7 percent to $77.88. Sanctions on Russia were the most important factor. The Gaza ceasefire made further Houthi attacks on shipping less likely.
Oil prices are set to drop in 2025, putting gasoline prices on track for a third-straight annual decline. ... from an average of about $80 per barrel last year, to $76 in 2025. At JPMorgan ...
The price of oil was about US$80 by October 2021, the highest since 2014. [60] [61] The United States delivered 16 billion cubic meters of LNG to Europe in January 2022, and 6 billion in February. [62] Iranian oil minister Javad Owji said if U.S.-led sanctions on Iran's oil and gas industry are lifted, Iran will have every capability to tackle ...
U.S. crude and fuel inventories rose and oil prices fell, still finishing higher for the 5th week. [78] In the last full week of January, WTI reached $88.84, the highest in seven years, before settling at $86.82. Brent reached $91.70, highest since October 2014, before falling to $90.03. Both had the most up weeks since October. [79]
"Global oil demand growth will likely decelerate from 1.4 mbd this year to 1 mbd in 2025 as the last phase of the post-pandemic rebound dissipates and advancing energy efficiencies and an ...