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

Bank of America warns OPEC+ output hikes will weigh on oil market long-term

Brent
WTI Light Crude Oil
Bank of America warns OPEC+ output hikes will weigh on oil market long-term

The oil market could soon face long-term pressure due to oversupply, according to the Bank of America analysts. They point to OPEC+’s planned production hikes, which threaten to exacerbate an already glutted market.

Alliance members agreed to boost daily crude output by 411,000 barrels in June. However, bank analysts project the actual supply increase will reach just 170,000 barrels due to overproduction by some OPEC+ members and constraints on others.

Nevertheless, the market will remain oversupplied. Bank of America projects Brent will average $62 per barrel this year, down from $80 in the previous year. Analysts caution that prices could temporarily plunge to $50 if trade tensions escalate.

Elena Berseneva MarketCheese

Recommended

United States. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 124.5K to 114.6K
26 June
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 563 to 573
26 June
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 433 to 440
26 June
United States. Cushing Crude Oil Inventories. The value of the indicator has increased from -1.606M to -1.077M
24 June
United States. Crude Oil Inventories. The value of the indicator has increased from -8.263M to -6.088M
24 June
Top news
United States. PCE price index (YoY). The value of the indicator has increased from 3.8% to 4.1%
25 June
United States. Core PCE Price Index (YoY). The value of the indicator has increased from 3.3% to 3.4%
25 June
United States. GDP (QoQ). The value of the indicator has increased from 1.6% to 2.1%
25 June
European Union. Manufacturing PMI. The value of the indicator has decreased from 51.6 to 51.3
23 June
United Kingdom. BoE Interest Rate Decision. The value of the indicator remained at the same level of 3.75%
18 June
All news

Forecasts

AUDCAD buy
Period: 26.07.2026 Expectation: 1600 pips
Buying AUDCAD from support level
Indicators and reports FA Other Hot news Chart analysis
26 June 2026 48
Reed_Marcus
GBPUSD sell
Period: 03.07.2026 Expectation: 1310 pips
GBPUSD is still poised for further downside
Technical analysis FA Other Chart analysis Indicators Fundamental analysis
26 June 2026 30
Lyra_Moonwell1
Brent sell
Period: 03.07.2026 Expectation: 500 pips
Higher supply and weaker demand is likely to push Brent into red zone by weekend
Technical analysis Hot news Indicators Fundamental analysis
26 June 2026 20
Emily_Foster
USDCAD buy
Period: 26.07.2026 Expectation: 3100 pips
Invest in USDCAD up to 1.45000
Indicators and reports FA Other Hot news Chart analysis
26 June 2026 27
Sinclair_John
ETHUSD sell
Period: 02.07.2026 Expectation: 19500 pips
Selling ETHUSD with $1,585 in view following short-lived recovery
Technical analysis FA Other Chart analysis Indicators Fundamental analysis
25 June 2026 41
Lyra_Moonwell1
AUDCAD buy
Period: 31.07.2026 Expectation: 220 pips
Buying AUDCAD up to 0.9837
TA Other FA Other
25 June 2026 25
Bruce_Powers
Go to forecasts