# Oil price forecasts cut as supply risks trend lower, Reuters poll finds

> A Reuters poll of 41 analysts and economists lowered its 2024 average price forecasts, with Brent at $84.01 and US crude at $79.56 versus April forecasts of $84.62 and $80.46. The survey was conducted over the last two weeks.

- Date: 2024-06-01 · published 2024-06-01T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/30415-oil-price-forecasts-cut-as-supply-risks-trend-lower-reuters-poll-finds
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower consensus crude forecasts point to softer energy costs for diesel, fertilizer and freight, modestly easing input pressure on feed margins.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-11-04 | [OPEC oil output rises in October as Libyan supply rebounds, survey finds \| Reuters](https://feedsoft.ai/events/27304-opec-oil-output-rises-in-october-as-libyan-supply-rebounds-survey-finds-reuters.md) | +1.3% | -2.1% |
| WTI | 2025-12-11 | [IEA lowers 2026 oil glut forecast for first time since May \| Reuters](https://feedsoft.ai/events/21664-iea-lowers-2026-oil-glut-forecast-for-first-time-since-may-reuters.md) | -4.4% | +0.7% |
| WTI | 2024-12-11 | [OPEC makes fifth and biggest cut to 2024 oil demand growth forecast \| Reuters](https://feedsoft.ai/events/27123-opec-makes-fifth-and-biggest-cut-to-2024-oil-demand-growth-forecast-reuters.md) | +2.1% | +7.6% |
| WTI | 2023-08-31 | [OPEC oil output rises in August as Iran hits 2018 high, Reuters survey finds \| Reuters](https://feedsoft.ai/events/34490-opec-oil-output-rises-in-august-as-iran-hits-2018-high-reuters-survey-finds.md) | +6.4% | +12.3% |
| WTI | 2026-04-17 | [Goldman sees softer oil demand, flags two-sided risks to 2026 price outlook \| Reuters](https://feedsoft.ai/events/8810-goldman-sees-softer-oil-demand-flags-two-sided-risks-to-2026-price-outlook.md) | +2.3% | +7.9% |
| BRENT | 2024-11-04 | [OPEC oil output rises in October as Libyan supply rebounds, survey finds \| Reuters](https://feedsoft.ai/events/27304-opec-oil-output-rises-in-october-as-libyan-supply-rebounds-survey-finds-reuters.md) | +0.8% | +0.2% |
| BRENT | 2025-12-11 | [IEA lowers 2026 oil glut forecast for first time since May \| Reuters](https://feedsoft.ai/events/21664-iea-lowers-2026-oil-glut-forecast-for-first-time-since-may-reuters.md) | -4.0% | +2.5% |
| BRENT | 2024-12-11 | [OPEC makes fifth and biggest cut to 2024 oil demand growth forecast \| Reuters](https://feedsoft.ai/events/27123-opec-makes-fifth-and-biggest-cut-to-2024-oil-demand-growth-forecast-reuters.md) | +0.4% | +6.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-price-forecasts-cut-supply-risks-trend-lower-2024-05-31/

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