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Industry - Commodity Price Forecasts - Commodity Price Forecasts

Best Price Guarantee Length Publisher Published Date SKU
from $285 20 Pages Oxford Economics December, 2024 OFE19463569
Best Price Guarantee
Price from $285
Length 20 Pages
Publisher Oxford Economics
Published Date December, 2024
SKU OFE19463569

Industry - Commodity Price Forecasts - Commodity Price Forecasts



We maintain our call that oil prices will average US$74 per barrel in Q4 and US72-US$73 pb in 2025. Weak oil demand from China remains the key concern as the latest fiscal stimulus announcement failed to reassure markets. As we expected, OPEC+ announced a further three-month delay to unwinding its output cuts until Q2 2025 at its December meeting.


Global: Commodity price forecasts adjusted on Trump policies
Oil Overview
Markets price in bearish fundamentals
OPEC+ has delayed unwinding its cuts
Markets exit 2024 concerned about China's demand
We maintain our 2025 oil price forecast
Gas Overview
We remain bullish on gas next year
Iron & Steel Overview
Iron ore finds temporary support
We see US steel prices surging in 2026
Base Metals Overview
Base metal prices revised lower
Precious Metals Overview
Gold consolidation continues
Silver and PGMs volatility persists
Battery Metals Overview
Battery metals markets under pressure
Agricultural Commodities Overview
Food prices to fall in 2025
Lumber at risk from Trump tariffs
Risks
Second Trump presidency
Middle East conflict
Russia-Ukraine war
Macroeconomic risks
Resource nationalism

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