Updates table with latest estimates
April 15 (Reuters) - HSBC revised down its Brent crude oil price forecasts for 2025 and 2026, following the announcement of tariffs by U.S. President Donald Trump and the decision by OPEC+ to increase production, the bank said in a note on Tuesday.
The bank's forecast for 2025 has been reduced to $68.5 per barrel, down from the previous estimate of $73/bbl. Its 2026 prediction has also been lowered to $65/bbl, compared to the earlier estimate of $70/bbl.
HSBC also revised its global demand growth forecasts to 0.7 million barrels per day (mbd) for 2025 and 0.8 mbd for 2026, down from the previous estimate of 0.9 mbd for both years.
The following is a list of the latest brokerage forecasts for 2025 and 2026 average prices for Brent and WTI (in $ per barrel):
Brokerage/Agency | Brent | WTI | Forecasts as of | ||
2025 | 2026 | 2025 | 2026 | ||
HSBC | $68.5 | $65 | $65.4 | 62 | April 15, 2025 |
Goldman Sachs | $66 | $58 | $63 | $55 | April 14, 2025 |
BofA | $65 | $70 | $61 | $66 | April 14, 2025 |
JP Morgan | $66 | $58 | $62 | $54 | April 14, 2025 |
Barclays | $74 | - | $70 | - | March 14, 2025 |
Citi | $67 | $65 | $63 | $62 | January 22, 2025 |
Deutsche Bank | $72 | $72 | $68 | $68 | January 15, 2025 |
- | $70 | - | - | January 13, 2025 | |
$71 | $64 | $66 | $60 | December 05, 2024 | |
BMI | $78 | - | $79 | - | November 07, 2024 |
NAB | $78 | - | - | - | October 06, 2024 |
HSBC | $70 | - | $67 | - | September 30, 2024 |
UBS | $75 | - | $71 | - | September 16, 2024 |
DNB | $77 | - | - | August 20, 2024 | |
* indicates end-of-period forecast
# current as of given date, may not indicate date of revision
For a table of crude price forecasts as per Reuters' latest monthly poll, see OILPOLL
(Reporting by Anmol Choubey in Bengaluru; editing by David Evans)
((anmol.choubey@thomsonreuters.com;))