Wti oil price forecast 2025 according to JP Morgan

According to JP Morgan, WTI oil price forecast 2025 is likely to average $88, with upside risk from winter demand spikes. Energy subsectors like drilling services could outperform if crude prices sustain above hedge breakevens. Oil prices surged to multi-week highs as September 2025 ends, with WTI crude climbing 0.95% to $65.60 per barrel and Brent reaching $70.70 (marking the biggest weekly gain since June). This dramatic rally stems from a convergence of supply disruptions and geopolitical tensions that could reshape energy markets heading into 2026. On September 29, 2025, the Brent crude oil price stood at 66.8 U.S. dollars per barrel, compared to 63.45 U.S. dollars for WTI oil and 70.48 U.S. dollars for the OPEC basket. Oil prices rose slightly that week. Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices . Hedge funds are revising their WTI oil price forecast 2025 upward to $91, anticipating global inventory drawdowns. Share prices in mid-cap E&P firms often respond more sharply to such bullish oil sentiment than integrated peers.