Most analysts have revised down their oil price forecasts for the third consecutive month as swelling OPEC+ supply and lingering uncertainty around the impact of trade disputes on fuel demand weigh on prices, a Reuters poll showed.
According to Reuters, a survey of 40 economists and analysts in May forecasts Brent crude will average $66.98 per barrel in 2025, down from April’s $68.98 forecast, while U.S. crude is seen at $63.35, below last month’s $65.08 estimate. Prices have averaged roughly $71.08 and $67.56 so far this year respectively, as per LSEG data.
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