The Brent price will average $68 per barrel in the third quarter, $63 per barrel in the fourth quarter, $57 per barrel in the first quarter of next year, $59 per barrel in the second quarter, $60 per barrel in the third quarter, and $67 per barrel in the fourth quarter of 2026, Macquarie forecast in the report. German export expectations for manufacturing 1991-2024 Recent futures market activity suggests the crude oil price forecast 2025 could stay volatile, with prices potentially swinging above $100/bbl during supply shocks. Equity investors in the energy sector are already adjusting portfolios toward integrated oil majors and midstream companies with stable cash flows.