# Oil faces uphill fight as demand woes, oversupply challenge OPEC efforts

> A Reuters monthly poll of 41 economists and analysts forecasts Brent averaging $74.53 per barrel in 2025, down from $76.61 in October, marking a seventh straight downward revision. U.S. crude is projected at $70.69 per barrel for 2025.

- Date: 2024-11-29 · published 2024-11-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27583-oil-faces-uphill-fight-as-demand-woes-oversupply-challenge-opec-efforts
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Persistent downward revisions reflect weak Chinese demand and ample supply, which lowers the cost outlook for diesel and energy inputs feeding feed manufacturing and freight.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-faces-uphill-fight-demand-woes-oversupply-challenge-opec-efforts-2024-11-29/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.