Oil
Market remains well supplied
The market remains well supplied and we expect the WTI oil price to move sideways within a range of USD 52 to 64 per barrel over the next few months.
The WTI oil price has weakened slightly in recent weeks within a narrow price range of USD 56 to 62 per barrel and currently stands at USD 58 per barrel.
The additional sanctions against major Russian oil companies and the Ukrainian drone attacks on Russian oil infrastructure have only led to slightly higher oil prices in the short term. For European oil products such as heating oil and diesel, however, the sanctions against Rosneft and Lukoil appear to have led to a shortage and higher prices in the short term.
In the coming months, demand is expected to increase due to the stronger global economic growth that is emerging. However, continued high oil production in the USA (currently at 13.83 million barrels of WTI oil per day) and the lifting of the previous production limits in OPEC will ensure sufficient supply.
Sources: OPEC, FuW, MarketMap, International Energy Agency (IEA)
Status: 24.11.2025