UBS lowers oil price forecast: Brent may fall to $62 per barrel by the end of 2025, increased supply being the main reason.

Zhtng Cijng APP learned that UBS released a report on Monday lowering its forecast for international oil prices. It is expected that the price of Brent crude oil will remain near the upper limit of $60 to $70 per barrel range, and may reach the lower limit later this year. According to the latest adjustment, the institution predicts that by the end of 2025 and March 2026, oil prices will drop to $62 per barrel, down $6 from the previous forecast of $68 per barrel; it is expected to rise to $65 per barrel by mid-2026, and maintain that price level in the second half of the year. During the same period, the price difference between WTI crude oil and Brent crude oil is also expected to narrow from $4 per barrel to $3 per barrel.