Brent crude seen falling to $55 by year-end

Brent crude prices could drop to around $55 per barrel by the end of 2025, according to S&P Global Commodity Insights, despite futures edging up 0.5 per cent on Monday to $65.84 after OPEC+ slowed its output hike.

Speaking at the Asia Pacific Petroleum Conference, S&P Global co-president Dave Ernsberger said the decline reflects weaker demand expectations and OPEC’s continued unwinding of production. He added that a surplus of supply, ongoing Russian exports, and inventory shifts could push prices even lower.

Dated Brent, which underpins oil futures and prices over 60 per cent of global crude trade, remains a key benchmark.

Attribution: Reuters

Subediting: Y.Yasser