Mitsubishi UFJ: The oil market will face severe oversupply.

Mitsubishi UFJ Financial Group (MUFG) Bank stated that, due to slowing global oil demand growth and strong supply, the oil market is expected to face significant oversupply this year. MUFG's Head of Commodities, Essam Edah and analyst Kim Su-jin said, "The US government's unpredictable tariff policy strategy has made traders who were already uneasy about long-term oversupply even more nervous about the market fundamentals." Mitsubishi UFJ predicts that by 2025, the oversupply in the oil market will reach 1.1 million barrels per day, with Brent crude averaging $66 per barrel, lower than the previous estimate of $73 per barrel.