iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Oil Prices Rise but 2025 Surplus Fears Weigh

13 Dec 2024 , 09:18 AM

Friday saw a slight decline in oil prices as investors, anticipating another Federal Reserve interest rate decrease next week, concentrated on a projection of plentiful supply and dismissed hopes of increased demand from Chinese stimulus measures next year.

U.S. West Texas Intermediate crude was down 7 cents at $69.95 a barrel, while Brent crude futures had slipped 8 cents to $73.33 a barrel.

According to the International Energy Agency, non-OPEC+ countries—led by the US, Canada, Guyana, Brazil, and Argentina—will increase supply by roughly 1.5 million barrels per day (bpd) in the upcoming year.

In 2025, three of Canada’s largest oil companies anticipate increased output. Goldman Sachs predicts that Lower 48 shale oil output would increase by 600,000 barrels per day in 2025, building on record production in the United States. However, if Brent drops below $70 per barrel, the expansion may decelerate.

However, worries about supply disruption from harsher sanctions on Iran and Russia, together with optimism that Chinese stimulus measures will boost demand at the world’s second-largest oil consumer, keep Brent and WTI on track to record a weekly rise of over 3%.

For the first time in seven months, Chinese crude imports increased annually in November due to stockpiling and declining prices.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Brent
  • crude oil
  • WTI
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.