From Yahoo Finance: 2025-04-14 14:20:00

JP Morgan lowers oil price forecasts for 2025 and next year due to increased OPEC+ production and weaker demand. Brent price forecast for 2025 now at $66 per barrel, WTI price outlook at $62. Global oil demand expected to rise by 0.8 mbd with growth averaging 0.3 mbd in Q3.

Oil market pressured by 80% chance of mild recession and 1 mbd increase in OPEC production. OPEC+ may gain market share in 2025, but stabilizing market at $60 Brent in 2026 would require alliance to reverse production increases and implement further cuts, says JP Morgan.

Goldman Sachs also reduces Brent and WTI oil forecasts for 2025 and 2026 due to higher OPEC+ supply and risk of global recession from escalating trade conflict. Brent crude trading at $65, WTI at $61 on Monday.

Read more: JP Morgan cuts oil price forecasts on weak demand, higher output