Crude oil prices are seeing a modest rebound as market dynamics shift from demand concerns, particularly around China, to looming supply issues. Forecasts from major agencies indicate global oil demand is on the rise, particularly through 2026 with China's stimulus playing a key role. Supply is expected to increase due to easing OPEC+ production cuts and rising output from countries like the US and Brazil. Despite these gains, sanctions on Russia and Iran may not significantly affect short-term market stability. Prices are predicted to stabilize around $72 per barrel this year, dropping to $66 next year.
Global oil demand is expected to continue growing, especially driven by China, while supply-side issues pressure prices downward amid increased production and eased OPEC+ restrictions.
The US EIA anticipates that oil production will reach 104.6 million barrels per day in 2025, alongside a robust support from non-member countries.
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