New York, January 28, 2025: Global crude oil prices are expected to remain between USD 75-85 per barrel in the first half of 2025, before decreasing to USD 65-75 in the second half. This projection is based on factors like rising global oil production and a slowdown in demand growth. Increased supply from non-OPEC nations is expected to help meet demand, putting downward pressure on prices in the latter part of the year.
The International Energy Agency (IEA) forecasts a rise in global oil production by 1.8 million barrels per day in 2025, while the U.S. Energy Information Administration (EIA) anticipates a decline in Brent crude prices to USD 74 per barrel. Geopolitical factors and OPEC+ decisions will continue to impact price fluctuations.
