Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
1 April 2025 | Oil

Macquarie sees oil falling to $60 on supply surplus

Brent
WTI Light Crude Oil
Macquarie sees oil falling to $60 on supply surplus

Macquarie forecasts oil prices could slump to $60 per barrel—a level not seen since 2021—as markets remain oversupplied.

Crude oil demand is weakening amid escalating global trade tensions, just as OPEC+ prepares to boost output this month. This could send markets into further imbalance, the International Energy Agency warns.

Macquarie analysts, however, don't foresee a major slump in oil prices. In their opinion, if crude falls below $60, the supply additions in the US and from OPEC+ will slow.

The bank also highlights the shutdown of several Chinese refineries. Macquarie stresses that if these closures accelerate, the longer-term outlook for refined products could be more positive.

Elena Berseneva MarketCheese

Recommended

United States. Cushing Crude Oil Inventories. The value of the indicator has decreased from 2.266M to 0.553M
Today at 2:30 PM
United States. Crude Oil Inventories. The value of the indicator has decreased from 2.969M to 0.922M
Today at 2:30 PM
United States. API Weekly Crude Oil Stock. The value of the indicator has decreased from 1.786M to 1.019M
Yesterday at 8:52 PM
United States. CFTC Crude Oil speculative net positions. The value of the indicator has increased from 135.9K to 141.1K
25 September
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 595 to 599
25 September
Top news
United States. PCE price index (YoY). The value of the indicator remained at the same level of 3.4%
Today at 12:30 PM
United States. Core PCE Price Index (YoY). The value of the indicator remained at the same level of 3%
Today at 12:30 PM
United States. GDP (QoQ). The value of the indicator has increased from 1.5% to 2.2%
Today at 12:30 PM
Australia. RBA Interest Rate Decision. The value of the indicator has increased from 4.35% to 4.6%
Yesterday at 4:30 AM
Switzerland. SNB Interest Rate Decision. The value of the indicator remained at the same level of 0%
24 September
All news

Forecasts

NVIDIA Corporation buy
Period: 07.10.2026 Expectation: 900 pips
Buy NVIDIA up to $236
Indicators and reports FA Other Chart analysis Hot news
Today at 11:07 AM 15
Sinclair_John
USDCAD buy
Period: 01.11.2026 Expectation: 3500 pips
Invest in USDCAD with 1.45500 in sight
Indicators and reports FA Other Chart analysis Hot news
Today at 09:54 AM 14
Reed_Marcus
BTCUSD sell
Period: 29.10.2026 Expectation: 3100 pips
BTCUSD sell-off targets $80,000
Indicators and reports FA Other Hot news Indicators
Yesterday at 10:12 AM 24
Reed_Marcus
EURUSD sell
Period: 31.10.2026 Expectation: 600 pips
Selling EURUSD on Fed’s harsh rhetoric
FA Other TA Other
Yesterday at 09:58 AM 18
Bruce_Powers
Silver buy
Period: 31.12.2026 Expectation: 10000 pips
Buy silver from support levels
FA Other TA Other
Yesterday at 09:58 AM 18
Bruce_Powers
AUDUSD sell
Period: 29.10.2026 Expectation: 1500 pips
Go short on AUDUSD ahead of RBA meeting
Indicators and reports FA Other Hot news Indicators
Yesterday at 08:17 AM 23
Sinclair_John
Go to forecasts