Economy

Where Are Oil Prices Headed in 2025? Experts Are Divided

Prices will rise or fall depending on geopolitical events, technological changes, and new policies under incoming President Donald Trump.
Where Are Oil Prices Headed in 2025? Experts Are Divided
Crude oil storage tanks at the oil hub in Cushing, Okla., on March 24, 2016. Nick Oxford/Reuters
Panos Mourdoukoutas
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The new year could be another roller coaster for the oil industry. Supply and demand could remain volatile, causing wild fluctuations in price, with experts divided on the direction.

Oil prices were up and down in 2024. In the first half of the year, West Texas Intermediate crude headed higher, trading in the $70–$86 per barrel range. In the second half, they dropped to $65–$82.
Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”