From Financial Modeling Prep: 2025-03-02 05:13:19

Brent crude prices are forecasted to average $75 per barrel in 2025 and $73 in 2026, with geopolitical and supply uncertainties keeping prices under pressure. Factors such as Russian oil sanctions, Trump’s tariff plans, and OPEC+ production decisions are influencing the market trajectory, with long-term demand growth expected to slow due to EV adoption.

Key market catalysts for oil prices include the potential easing of Russian oil sanctions, Trump’s tariff plans impacting global economic activity and oil demand, and OPEC+ considering delaying planned supply increases. OPEC+ is currently implementing production cuts to maintain Brent prices above $70 per barrel, with a gradual monthly increase of 138,000 bpd planned for April.

BofA analysts project Brent crude prices to range between $60 and $80 per barrel through 2030, with oil demand growth expected to slow significantly over the coming years. Market implications include monitoring OPEC+ policy shifts, U.S.-Russia relations, the global economic impact of tariffs, and the pace of EV adoption on long-term oil consumption trends.

As Brent prices face prolonged pressure, investors and industry stakeholders will need to stay informed about evolving geopolitical and macroeconomic trends to navigate potential volatility in the oil market.



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