Will Heating Oil Prices Drop In 2025. Wti is expected to average $72.13/bl next year, $6/bl down on the july. The forecasts consider the ongoing conflicts in eastern.
The oil market will see a surplus next year even if opec+ begins to unwind its production cuts in april 2025 as currently planned, most analysts and investment banks say. We expect that crude oil prices will gradually decrease after april 2024 with minor stock builds because global production increases more than consumption.