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Oct 15, 2024 · In addition, global oil inventories are much lower today, currently standing at 4.4 billion barrels — the lowest on record since January 2017. Overall, J.P. Morgan Commodities Research forecasts Brent could average $80/bbl in the fourth quarter of 2024 and $75/bbl in 2025, declining to the low $60s by end-2025.
- J.P. Morgan
Jan 9, 2024 · We expect the Brent crude oil price will average $82 per barrel (b) in 2024 and $79/b in 2025, close to the 2023 average of $82/b. Our forecast for relatively little price change is based on expectations that global supply and demand of petroleum liquids will be relatively balanced. Although we forecast prices to average near $80/b over the ...
Oct 15, 2024 · World oil demand is on track to expand by just shy of 900 kb/d in 2024 and close to 1 mb/d in 2025, marking a sharp slowdown on the roughly 2 mb/d seen over the 2022-2023 post-pandemic period. China underpins the deceleration in growth, accounting for around 20% of global gains both this year and next year, compared to almost 70% in 2023.
Jan 10, 2024 · In the first quarter of 2024 (1Q24), we expect crude oil prices to rise somewhat, driven by OPEC+ production cuts leading to global stock draws of 810,000 barrels per day (b/d). As a result of the stock draws, we forecast the price of Brent will increase from $78/b in December 2023 to $85/b in March 2024.
Nov 7, 2024 · Over 2024 and 2025, India accounts for 25% of total oil consumption growth globally. We expect an increase of 1.0 million barrels per day (b/d) in global consumption of liquid fuels in 2024. We expect even more growth next year, with global oil consumption rising by 1.2 million b/d. Global oil inventories and prices.
2 hours ago · Goldman Sachs expects Brent prices to average around $80 per barrel this year, despite a 2024 deficit and geopolitical uncertainty, citing an anticipated 0.4 mb/d surplus next year, the bank said ...
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Nov 14, 2024 · UBS slashed its price forecast for global benchmark Brent to $80 per barrel on weakening demand in China, the world's largest crude importer.
