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Oil prices are headed lower next year. That's a tailwind for the incoming Trump administration. ... BofA analysis shows prices could drop to an average of $65 per barrel in 2025, particularly if ...
Oil prices are set to drop in 2025, putting gasoline prices on track for a third-straight annual decline. ... Oil prices declined 3% in 2024, falling for a second year in a row.
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 ...
The day after oil fell nearly 5 percent to a four-month low, the fourth down week finished with Brent at $80.61 and WTI at $75.89 as a result of continued bad news from China, high U.S. inventories and record production, with sanctions on Russian oil shipments causing prices to increase. [41] [42]
The International Energy Agency (IEA) increased its forecast for 2025 global oil demand growth to 1.1 million barrels per day (bpd) from 990,000 bpd last month, citing China's stimulus measures.
The EIA expects the United States to produce 13.52 million bpd of oil in 2025, up from 13.24 million bpd in 2024, it said in its December Short-Term Energy Outlook (STEO). Meanwhile U.S. refiners ...
A set of models published in a 2014 Ph.D. thesis predicted that a 2012 peak would be followed by a drop in oil prices, which in some scenarios could turn into a rapid rise in prices thereafter. [68] According to energy blogger Ron Patterson, the peak of world oil production was probably around 2010. [69]
Some forecasters have called for oil prices to hit $50 a barrel. That would mark a decline of nearly 40% from current levels. Oil oversupply could send prices tumbling in 2025, energy analyst says