Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to TASS on the expected dynamics of Brent and Urals oil prices in 2025.
According to Alexey Belogoryev, the most significant decline in oil prices should be expected in autumn and winter due to the surplus in the market, while in the second quarter the price of Brent will be close to the current one, balancing in the range of $ 68-72 per barrel.
Belogoryev explained that uncertainty about US policy, the possibility of trade wars, the risk of a recession in the United States, as well as the lack of clarity on the future course of sanctions against oil exports from Russia and Iran are causing confusion in market expectations. The discount rates of Russian Urals FOB oil to Brent will remain at the level of $ 10-13 per barrel for some time, however, their further dynamics strongly depends on the likely changes in the US sanctions policy, the analyst added.
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