Exacerbated concerns about oversupply, crude oil will face difficult climbing.

According to the survey, due to the increase in oil production by major oil-producing countries exacerbating the risk of oversupply, and the threat of U.S. tariffs suppressing demand growth, it will be difficult for oil prices to gain much momentum from current levels this year. The survey of 31 economists and analysts in August predicted that the average price of Brent crude oil in 2025 would be $67.65 per barrel, roughly in line with the July forecast of $67.84. So far this year, the global benchmark Brent crude oil price has been around $70 per barrel. The average price of U.S. crude oil is expected to be $64.65, compared to last month's estimate of $64.61. Mutas Altaghree, senior energy economist at Rabobank, said: "With the addition of new production by OPEC+ and expectations of weak global demand, the outlook for oversupply in 2025 will be even more severe." He pointed out that the outlook is still shrouded in "deep uncertainty," particularly concerning the geopolitical consequences of additional U.S. tariffs, such as the Iran nuclear agreement or Russia agreeing to a ceasefire.