Fitch Cuts 2025-2027 Oil Price Forecasts,Cites Oversupply


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) - Fitch Ratings announced Wednesday (12/3) it has cut its 
2025-2027 forecast for oil prices while raising its expectation for natural gas 
prices this year, citing supply dynamics for both.

   A revised table on oil and gas price assumptions published by the ratings 
agency showed that its prior forecast of $70 bbl for Brent in 2025 has been 
reduced to $69 bbl. The 2026-2027 expectation of $65 bbl for Brent was cut to 
$63 bbl.

   For WTI, the original Fitch forecast of $65 bbl for 2025 has been trimmed to 
$64 bbl. The 2026-2027 expectation of $60 bbl has eased to $58 bbl.

   The cut in its crude price forecasts reflects market oversupply, Fitch said.

   In the case of U.S. natural gas, Fitch's 2025 outlook of $3.40 per million 
cubic feet (Mcf) has been raised to $3.50 Mcf.

   The higher gas price assumption reflects tighter European gas balances as 
supply growth of U.S. liquefied natural gas is constrained by project-timing 
slippage, Fitch added.

    




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