Geopolitical tensions raise oil price forecast, but demand worries keep prices in check.

From Yahoo Finance: 2025-06-30 09:34:00

Analysts slightly raise oil price forecasts due to Middle East tensions, but OPEC+ supply and demand concerns weigh on crude. Brent crude expected to average $67.86 in 2025, up from May’s $66.98 forecast. Iran-Israel conflict and U.S. intervention cause oil price volatility, hitting $81.40 then settling at $67.14 post-ceasefire.

Price spikes from conflict seen as temporary, with stable Gulf production and rising OPEC+ output limiting crude rally. OPEC+ agreed to increase oil production by 411,000 bpd for July, impacting market sentiment. Analysts expect global oil demand to grow by over 730,000 bpd in 2025, down from last month’s 775,000 bpd forecast.



Read more at Yahoo Finance: Geopolitical tensions nudge oil outlook higher, but demand concerns persist: Reuters poll