One for the oil traders - Fitch has cut its oil price estimate to $65 a barrel from $70
Fitch Ratings has lowered its 2025 outlook for the global oil and gas sector to deteriorating, pointing to rising OPEC+ production, expanding non-OPEC+ supply, and the drag from U.S. The agency now expects oil demand to rise by just 800,000 barrels per day—down from a previous forecast of over 1 million—and has cut its oil price estimate to $65 a barrel from $70.Although some tariff relief has emerged, uncertainty continues to suppress consumption.
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