There may be room for optimism, as analysts at Barclays Bank, in a note, noted that the oil market is very negative and risks may be tilted to the upside.
Barclays added: “We believe that the price of Brent crude oil will remain above $70 per barrel more time than it will remain below it, given that the dynamics of supply and demand have been clear for some time.”
In general, it is very likely that the imbalances between supply and demand will intensify compared to expectations until 2025, which supports oil prices, especially since the imbalances in 2026 have already become more imbalanced, according to Barclays Bank.
