The US has revised down its expectations for oil reserves for next year, forecasting a slight deficit. According to the monthly report of the Energy Information Administration, in 2025, global oil consumption should exceed its production by 100,000 barrels per day. This is significantly different from the previous forecast, which assumed an excess of 300 thousand barrels per day. The forecast adjustment is related to the decision of OPEC+ to postpone the increase in supplies for three months, which will lead to a tightening of market conditions. However, this estimate is at odds with the position of the International Energy Agency (IEA), which a month ago predicted a surplus of 1 million barrels per day in 2025. The IEA's updated forecast is expected later this week. «We maintain the WTI price forecast in the range of $65-75 per barrel,» said Strategas Securities analyst John Byrne. On Wednesday, WTI futures rose 0.7% to reach $69.27 per barrel. Brent rose 0.9% to $72.97, continuing to strengthen for the third day in a row.
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