Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
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Analysts predict that oil prices could drop to $40 per barrel by 2025 if OPEC+ reverses its current production cuts, potentially erasing 40% of current crude prices.
November 13, 2024 | 4:00 am
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The United States Brent Oil Fund (BNO) could be significantly impacted if oil prices drop to $40 per barrel by 2025 due to OPEC+ reversing production cuts.
BNO is directly tied to Brent oil prices. A potential drop to $40 per barrel would likely lead to a decrease in BNO's value, as it tracks the price of Brent crude oil. The news of OPEC+ potentially reversing production cuts is a significant factor that could drive this price change.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80