Archive · 3 Jul 2025
Oil Prices Could Fall Below $60/bbl by December 2025
Imagine the price of oil, like the price of candy, is going down.
Experts predict it might drop below $60 a barrel by the end of 2025 because there will be more oil available than people need.
This is partly because countries are producing more oil, and things like US tariffs are making the global economy a little slower, meaning people won't need as much oil.
If oil prices stay low, it could mean cheaper gas and diesel for everyone!
Oil prices may fall below $60 per barrel by December 2025.
Supply is expected to outpace demand in 2025 and 2026.
US tariffs and economic uncertainty could slow global GDP growth.
Rising global oil inventories are contributing to the price decline.
Consumers may see lower petrol and diesel prices if prices remain low.
- Who
- S&P Global Commodity Insights, US EIA, and IEA.
- What
- Crude oil prices may slip below $60 per barrel.
- When
- By December 2025 and potentially averaging $59 in 2026.
- Where
- Global oil markets.
- Why
- Due to increased supply, muted demand, and economic uncertainty.
Impact
Expectations
Supply vs Demand
Impact
Increased oil supply.
Expectations
Reduced demand.
- Predicted Price (Dec 2025)
- Below $60 per barrel
- Oil Demand Growth Reduction (2025)
- From 1.2 mb/d to 0.8 mb/d
- Expected Oil Inventory Increase (2025)
- 0.8 million b/d
- Global GDP Growth (2025)
- Potentially 2.2%
- Average Brent Price (End of year 2025)
- $61 per barrel