Crude oil prices seen in $60–70 range in 2025, may fall further by year-end

Crude oil prices are likely to average around $60-70 per barrel in 2025 with a potential to fall below $60 by the end of the year on increasing supply by the Organisation of Petroleum Exporting Countries and weakening global demand, analysts say.

Benchmark Brent prices hovered around $66 per barrel on Monday. Prices however rose after the Organisation of Petroleum Exporting Countries, led by Saudi Arabia, decided to increase output starting October, at a slower pace than earlier.