Citi project Brent crude oil prices to average between $60 and $65 during second half 2025

Citi Research on how a resolution to the Russia-Ukraine conflict could influence global oil markets.

The firm indicates that shorter oil tanker routes following a resolution would ease market tightness, adding to the impact of any supply returning from the region. Improved logistics could lower transportation costs and enhance crude delivery efficiency.

Citi projects Brent crude oil prices to average between $60 and $65 per barrel during the second half of 2025. This forecast reflects expectations of market adjustments stemming from more efficient supply routes and increased geopolitical stability.

Additionally, Citi highlights that non-OPEC+ supply growth is expected to exceed weak global demand growth from the second to the fourth quarter of 2025. The soft demand outlook is partially attributed to the lingering effects of tariffs, which continue to suppress economic activity and energy consumption.

Overall, Citi’s outlook suggests that supply-side dynamics, driven by geopolitical shifts and increased non-OPEC+ production, will be key factors shaping oil market trends through 2025.

**

Info on Citi's outlook comes via Reuters.

**

Brent update: