BofA: Brent could briefly drop below $60 in 2025

14/08/2025 Argaam

Oil prices will remain under pressure in the second half of 2025, with Brent averaging around $63.5 a barrel and temporarily dipping below $60, Bank of America (BofA) said.

 

The US lender attributed the forecast to a projected global surplus of about 890,000 barrels per day (bpd) between July 2025 and June 2026, which could add roughly 100 million barrels to worldwide inventories.

 

OPEC+ production discipline, falling US supply, looser monetary and fiscal policy, and a weaker dollar could help prices recover above $70 a barrel by mid-2026, BofA added, according to Reuters.

 

The bank expects Brent to trade in a long-term range of $60–$80 a barrel, with a price rebound in the second half of 2026.

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