EU Commission forecasts Brent crude oil price
According to a report by webangah News Agency,the European Commission has revised its oil price projections downward in its latest spring report. The forecast for Brent crude now stands at $67.7 per barrel in 2025 and $64 in 2026, marking a decline from its autumn estimates of $73.1 for this year and $71.5 for next year.
The Commission attributed the price drop primarily to uncertainties surrounding U.S. trade tariffs.
It also downgraded its economic growth forecast for the Eurozone in 2025, reducing it from 1.3% (autumn estimate) to 0.9%. A similar slowdown is projected across the broader EU, with growth expectations trimmed from 1.5% to 1.1% for 2025 and from 1.8% to 1.5% for 2026.
The report cites ongoing instability from trade wars initiated by former U.S. President Donald Trump and the Ukraine conflict as key factors behind the economic deceleration.
During his second term,Trump adopted more aggressive trade policies,imposing sweeping tariffs—including a baseline 10% levy on all U.S.-bound goods announced on April 2 under his “Day of liberation” proclamation—with rates as high as 50% targeting 57 countries aimed at reducing america’s trade deficit while shielding domestic industries like Walmart temporarily avoided additional duties after a later suspension but faced rising operational costs irrespective).
