Eia oil price forecast 2025 under the baseline "EIA oil price

Under the baseline "EIA oil price forecast 2025", the global oil demand is set to reach 103.5 million barrels per day, underpinning robust shipment volumes. Shipping and tanker companies in stock markets could enjoy re-rating potential. The effect is evident in the field. In the Bakken formation, a major oil and gas field that runs through North and South Dakota, Montana, and central Canada, Exxon Mobil ( XOM ) sold off $550 million worth of the equipment it uses to drill for fossil fuels to a smaller regional company earlier this month, and Chevron ( CVX ) announced it is going to cut down its rig count from four to three . Saudi Arabia’s Spending Spree Meets Oil Price Reality The "EIA oil price forecast 2025" underlines fundamentals-driven support for crude, suggesting energy equities can sustain higher valuations if production costs stay in check. This could keep sector P/E ratios above their 10-year average.