London March 15 2025: Barclays on Friday lowered its 2025 Brent crude price forecast by $9 to $74 per barrel due to a weaker demand outlook amid mounting economic uncertainty.
Brent futures were trading at $70.51 a barrel while U.S. West Texas Intermediate crude futures were at $67.11.
“We turn neutral on oil prices relative to the curve and consensus, as we revise down our 2025 demand outlook 510,000 barrels per day due to soft high-frequency indicators and elevated economic uncertainty,” analysts at Barclays said in a note.
“However, we do not turn bearish relative to the curve, as inventories are low and still declining, and risks to the supply outlook are also skewed to the downside, due to price-sensitive producers pulling back and geopolitical tensions,” it said.
The following is a list of the latest brokerage forecasts for 2025 average prices per barrel for Brent and WTI (in $ per barrel):
| Brokerage/Agency | Brent | WTI | Forecasts as of | ||
| 2025 | 2026 | 2025 | 2026 | ||
| Barclays | $74 | – | $70 | – | March 14, 2025 |
| BofA | $75 | $73 | – | – | Feb. 24, 2025 |
| Goldman Sachs | $78 | $73 | $75 | $69 | Jan. 31, 2025 |
| Citi | $67 | $65 | $63 | $62 | Jan. 22, 2025 |
| Deutsche Bank | $72 | $72 | $68 | $68 | Jan. 15, 2025 |
| JP Morgan | $73 | $61 | $69 | $57 | Dec. 19, 2024 |
| Macquarie | $71 | $64 | $66 | $60 | Dec. 5, 2024 |
| BMI | $78 | – | $79 | – | Nov. 07, 2024 |
| NAB | $78 | – | – | – | Oct. 06, 2024 |
| HSBC | $70 | – | $67 | – | Sept. 30, 2024 |
| UBS | $75 | – | $71 | – | Sept. 16, 2024 |
| DNB | $77 | – | – | Aug. 20, 2024 | |
| Morgan Stanley | – | $70 | – | Jan. 13, 2025 |
