4 July | Oil

Barclays raises Brent crude price forecast to $72 per barrel for 2025

Barclays raises Brent crude price forecast to $72 per barrel for 2025

On Thursday, Barclays raised its Brent crude price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 per barrel for 2026, citing expected demand growth.

Geopolitical tensions in the Middle East have eased, and the risk premium has disappeared. However, Barclays believes the fundamental drivers for prices are more favorable than expected.

Global oil inventories declined in the second quarter despite higher output from OPEC and its allies, Barclays notes.

What is more, the bank raised its global oil demand growth forecast by 260,000 barrels per day. Most of this increase comes from the Organization for Economic Co-operation and Development (OECD) countries.

Barclays now forecasts a US oil demand increase of 130,000 barrels per day this year, a 100,000 barrels per day upward revision from its earlier estimate.

According to the Barclays report, OPEC+'s oil production target increased by 548,000 barrels per day between March and May 2025. However, the group's actual output remained largely flat. As a result, overall compliance with the agreement improved.

Elena Berseneva MarketCheese
Period: 23.07.2025 Expectation: 600 pips
USDCAD gains strength amid dollar rally and falling oil prices
Yesterday at 10:42 AM 62
Period: 25.07.2025 Expectation: 1000 pips
Nvidia's return to China pushes shares toward 180 level
Yesterday at 09:50 AM 42
Period: 23.07.2025 Expectation: 400 pips
Buying EURUSD up to 1.1660 level
Yesterday at 08:46 AM 25
Period: 22.07.2025 Expectation: 1545 pips
Buying Tesla shares with target at 332 amid company’s global expansion
15 July 2025 52
Period: 25.07.2025 Expectation: 800 pips
Ascending channel to limit AUDUSD correction
15 July 2025 50
Period: 29.08.2025 Expectation: 1000 pips
Selling SPX to 6,170 level
15 July 2025 35
Go to forecasts