OIL PRICES IN 2025 AND 2026 MAY SEE UPSIDE RISKS, SAYS MAJOR US BANK
A leading US investment bank stated on Tuesday that crude oil prices could face upward pressure in both 2025 and 2026, citing the recent improvement in trade relations between the United States and China.
According to the bank's estimates, these positive developments might boost oil prices by $3 to $4 per barrel by the end of this year, compared to its current projections—$60 per barrel for Brent and $56 per barrel for US crude oil in 2025, and $56 and $52 per barrel, respectively, in 2026.
These revised forecasts follow the announcement by the US and China—who are the world’s top oil consumers and importers—that they have agreed to a 90-day freeze on new tariffs after talks held in Geneva over the weekend.
The US said it would lower tariffs on Chinese goods from 145% to 30%, while China committed to reducing its tariffs on US products from 125% to 10%.