{"id":14057,"date":"2025-05-01T07:33:27","date_gmt":"2025-05-01T07:33:27","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=14057"},"modified":"2025-05-01T07:33:27","modified_gmt":"2025-05-01T07:33:27","slug":"brent-crude-oil-price-fell-to-61","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/14057\/","title":{"rendered":"Brent crude oil price fell to $61"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Oil prices steadied on Thursday a day after a steep decline triggered by signs that Saudi Arabia, the world’s biggest crude exporter, may raise output and data showing a contraction in the economy of the U.S., the world’s biggest oil consumer.<\/p>\n

Brent crude futures fell 6 cents, or 0.1%, to $61 a barrel as at 0730 GMT. U.S. West Texas Intermediate crude futures fell 12 cents or 0.2%, to $58.09. WTI closed at its lowest since March 2021 on Wednesday.<\/p>\n

“In the near term, the path of least resistance remains tilted to the downside,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.<\/p>\n

“The dual impact of deteriorating demand and looming supply expansion has created a pessimistic outlook for crude, with Brent crude appearing vulnerable to test $55 per barrel,” Sachdeva said.<\/p>\n

Saudi Arabia is telling allies and industry experts that it is unwilling to prop up the oil market with supply cuts and can manage a prolonged period of low prices, sources told Reuters.<\/p>\n

Several OPEC+ members will suggest the group accelerates output hikes in June for a second consecutive month, three people familiar with OPEC+ talks have said. Eight OPEC+ countries will meet on May 5 to decide a June output plan.<\/p>\n

“Any surprise in the pace or scale of production adjustments could significantly influence volatility in the sessions ahead,” Sachdeva said.<\/p>\n

The U.S. economy contracted for the first time in three years in the first quarter, swamped by a flood of imports as businesses raced to avoid higher costs from tariffs and underscoring the disruptive nature of President Donald Trump’s often chaotic trade policy.<\/p>\n

Trump’s tariffs have made it probable the global economy will slip into recession this year, a Reuters poll suggested.<\/p>\n

A demand outlook clouded by trade disputes coupled with an OPEC+ decision to increase supply will weigh on oil prices this year, a Reuters poll showed on Wednesday.
\nAnalytics firm Kpler has revised its 2025 global oil demand growth forecast to 640,000 barrels per day from 800,000 bpd, citing rising Sino-U.S. trade tension and weak Indian demand.<\/p>\n

A survey of 40 economists and analysts in April projected Brent crude to average $68.98 a barrel in 2025, versus March’s estimate of $72.94. They expect U.S. crude to average $65.08 a barrel rather than $69.16 seen last month.<\/p>\n

U.S. crude oil stockpiles fell by 2.7 million barrels last week on higher export and refinery demand, the Energy Information Administration said on Wednesday. That compared with analysts’ expectations in a Reuters poll for a 429,000 barrel rise.<\/p>\n

Updated on