Vitol CEO sees $70-$80/bbl oil prices in 2025, flags supply uncertainty
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Vitol CEO Russell Hardy predicts global oil prices will remain in the $70 to $80 per barrel range in 2025, similar to 2024, with geopolitical risks contributing to supply uncertainty.
November 07, 2024 | 6:45 am
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The United States Brent Oil Fund (BNO) may experience price stability as Vitol CEO forecasts oil prices to remain in the $70-$80 range in 2025, with supply uncertainties due to geopolitical risks.
BNO, which tracks Brent oil prices, is likely to see stable prices as Vitol's CEO forecasts a steady oil price range. However, geopolitical risks could introduce volatility, balancing the impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80