U.S. EIA Forecasts Lower Oil Price in 2025
– Forecast predicts a decrease in benchmark Brent crude oil prices.
– Average price per barrel to drop from $81 in 2024 to $74 in 2025 and further to $66 in 2026.
– Factors include increased global production of petroleum, slower demand growth, and geopolitical risks.
Author’s Take
The U.S. Energy Information Administration’s projection of declining oil prices in the coming years reflects a complex interplay of supply, demand, and geopolitical factors. This forecast underscores the delicate balance within the energy market and sets the stage for potential shifts in the global economy.
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