Yesterday, the barrel price of Brent oil rising up to $ 65.73, completed the day at the level of 63.23 dollars. The barrel price of Brent oil, as of 09.28 hours today, increased by 0.74 percent to $ 63.70. At the same time, the Western Texas species (WTI) found buyers at $ 60,32 barrels of crude oil.
Global economic growth concerns and the trading war between the United States and China continued to suppress oil prices, while prices were accelerated on the last trading day of the week.
According to the US Energy Information Administration (EIA) April 2025 short -term energy view Report, the US average daily crude oil production for 2025 is estimated to be 13 million 510 thousand barrels. Last year’s production was recorded as 13 million 210 thousand barrels.
In addition, global oil supply is expected to be 104 million 100 thousand barrels per day this year and demand will be 103 million 640 thousand barrels. The low difference between supply and demand is considered as one of the main factors that suppress prices in the market.
The US plays a decisive role in global markets as one of the largest oil manufacturers in the world. However, the fact that the estimation of production for 2025 remains below expectations indicates that there will be a limited increase in supply. This development creates upward pressure on prices in global oil markets.
Experts say that this sensitivity in the revised decline in US production and the global supply-demand balance can support the upward movement of oil prices in the future.
On the other hand, the long -term trade dispute between the US and China, the world’s two largest economies, narrows the global trade volume and disrupts trade routes, increases concerns about oil demand with the expectation that it will negatively reflect on global economic growth.
Although US President Donald Trump temporarily suspended his heavy customs duties on trading partners on April 9, the tension climbed on April 10 to 145 percent of tariffs for China. China, on the other hand, announced that it has increased the tariffs applied to US goods to 84 percent. Beijing management said in a statement, against these steps “will fight to the end,” he said.
Market players are concerned that China, the world’s largest oil importer, will further reduce oil demand. China is expected to increase incentive measures to balance the economic effects of Trump’s tariffs. However, inflation data, which was announced on April 10 and below expectations, showed that the Chinese economy is still under pressure.
EIA revised the oil price estimation for this year. According to the EIA report, foreseeing that global oil stocks will rise in the second quarter of this year are expected to suppress oil prices.
In the increase in stocks, it is evaluated that OPEC+ countries consisting of oil -exporting countries (OPEC) and some non -OPEC manufacturer countries relaxed the production shortages, the increase in production in non -OPEC countries, and the slowdown of growth in oil demand will be effective.
Accordingly, global oil stocks are estimated to increase an average of 600 thousand barrels per day in the second quarter of 2025 and 700 thousand barrels per day in the second half. This increase is expected to continue at a similar speed in 2026.
Brent oil technically 69,56 dollars, resistance, 60.17 dollars can be followed as support.
