MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI China Daily Summary: Friday, December 13

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Rabobank Revises 2025 Brent Forecast to $70/bbl on Oversupply

OIL
BulletEnergy BulletsCommodities

A looming oversupplied market amid poor Chinese and US demand data will lead to an average Brent crude price of $70/bbl in 2025, according to Rabobank cited by Bloomberg. 

  • The estimate is a drop from a previous projection of $85/bbl with an oversupply of about 700kb/d expected next year.
  • Sensitivity analysis implies a $10/bbl shift in Brent prices from 0.5mb/d of oversupply.
  • The rate of increase in global gasoline and diesel consumption is slowing while population trends are negative for demand growth. “There simply are no countries on the scale of China and India regarding population and baseline development growth.”
98 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

A looming oversupplied market amid poor Chinese and US demand data will lead to an average Brent crude price of $70/bbl in 2025, according to Rabobank cited by Bloomberg. 

  • The estimate is a drop from a previous projection of $85/bbl with an oversupply of about 700kb/d expected next year.
  • Sensitivity analysis implies a $10/bbl shift in Brent prices from 0.5mb/d of oversupply.
  • The rate of increase in global gasoline and diesel consumption is slowing while population trends are negative for demand growth. “There simply are no countries on the scale of China and India regarding population and baseline development growth.”