Barclays Slashes Oil Price Forecast on 500,000 Bpd Demand Growth Cut

Barclays sees Brent Crude prices at $74 per barrel this year, down by $9 from its previous forecast, as it slashed its global demand growth estimate in mounting economic uncertainties. “We turn neutral on oil prices relative to the curve and consensus, as we revise down our 2025 demand outlook 510,000 barrels per day due to soft high?-?frequency indicators and elevated economic uncertainty,” Barclays analysts wrote in a note on Friday carried by Reuters. The UK-based bank now sees this year’s demand growth at 900,000 bpd. But…