Survey predicts lower oil prices in 2025 due to weak demand and rising supply

A new Reuters poll indicates a bleak outlook for oil prices in 2025, with Brent crude expected to average $76.61 per barrel, down from earlier estimates. This decline is attributed to weak demand from China and increasing supply from major producers. Analysts predict U.S. crude prices will also drop, averaging $72.73 in 2025. This marks the sixth consecutive month of lowered price expectations. Current prices are $73.25 for Brent and $69.55 for U.S. crude. The poll suggests a modest increase in global oil demand of 1-1.5 million barrels per day in 2025. Seasonal factors may lead OPEC+ to postpone planned supply increases until spring 2025.