Natural Gas and Oil Forecast: OPEC Cuts Demand Growth Outlook for 2025

Market Overview

Oil prices held steady on Thursday as weak demand forecasts and rising U.S. gasoline inventories offset concerns about EU sanctions targeting Russian oil flows. OPEC revised its 2025 demand growth outlook downward for the fifth consecutive month, with investors closely watching IEA market balance estimates.

While China’s plans for monetary easing may boost future oil demand, current consumption remains tempered, particularly in jet fuel.

The market is also eyeing potential U.S. interest rate cuts and additional sanctions, which could reshape energy dynamics. These geopolitical tensions continue to underscore uncertainty in global oil and natural gas markets.

Natural Gas Price Forecast

Natural Gas (NG) is trading at $3.25, up 0.99%, signaling modest upward momentum. The price is approaching the pivot point at $3.34, a critical level for determining the next move.

Immediate resistance lies at $3.52, followed by $3.66, while support levels are seen at $3.20 and $3.07. The 50-day EMA at $3.20 provides strong technical support, with the 200-day EMA slightly lower at $3.02, indicating a bullish short-term outlook.

A breakout above $3.34 could trigger further gains, potentially pushing prices toward $3.52 or beyond. However, a breach below this pivot may signal selling pressure, targeting $3.20 and lower levels.

WTI Oil Price Forecast

USOIL is trading at $70.42, up 0.15%, indicating a cautious yet bullish tone. The price is holding above the pivot point at $70.13, a critical level supporting its recent upward momentum.

Immediate resistance stands at $71.47, followed by $72.84, while support is visible at $69.04 and $67.68. The 50-day EMA at $68.84 is reinforcing short-term bullish sentiment, with the 200-day EMA at $69.38 further validating the current trend.

A sustained move above $70.13 could bolster buying interest, targeting the $71.47 resistance. Conversely, a drop below this pivot might trigger selling pressure toward $69.04. The recent breakout of a downward trendline suggests potential for an extended rally, keeping bulls in the driver’s seat.

Brent Oil Price Forecast

UKOIL is trading at $73.73, up 0.18%, reflecting a modest continuation of its upward momentum. The price has moved above the pivot point at $73.31, signaling bullish sentiment. Immediate resistance lies at $74.16, with a further challenge at $75.35.

On the downside, key support levels are positioned at $72.51 and $71.51, offering a safety net against potential pullbacks.

The 50-day EMA at $72.56 provides short-term support, while the 200-day EMA at $73.12 reinforces the bullish outlook. A sustained hold above $73.31 could pave the way for further gains, targeting $74.16 and beyond. However, slipping below this pivot could shift sentiment, driving prices toward $72.51.