Oil Market Prospects for 2025 and Beyond

As 2024 draws to a close, oil prices remain in the headlines. What will 2025 hold for oil supply, demand, and prices?

This year, rising oil production in the Western Hemisphere and weakening demand in China have weighed on prices. After years of cutting production, members of the Organization of the Petroleum Exporting Countries (OPEC) and cooperating countries, including Russia, are hoping to gradually reverse course. Meanwhile, the incoming Trump Administration could introduce policy changes affecting domestic and global oil markets, from deregulation on the national level to implementing sanctions abroad.

Join us for an in-depth discussion on the future of the oil market, hosted by Mark Finley, fellow in energy and global oil. Expert panelists will examine the key drivers shaping oil markets in 2025 and beyond, focusing on questions including:

• How will the changing investment and policy landscape affect U.S. supply prospects?
• How will the growing adoption of electric vehicles and global economic trends shape oil demand?
• How will Saudi Arabia, Russia, and other OPEC+ members balance the tension between supporting prices and defending market share?
• Will the ongoing crises in Ukraine and the Middle East pose new risks to oil supplies?
• Looking ahead, how will these factors — and the outcomes of the U.N. climate conference in Baku — influence policies and investments shaping oil markets in 2025 and beyond?

This event is sponsored by the Baker Institute Center for Energy Studies as part of its ongoing series of oil and energy market updates. Follow @CES_Baker_Inst on X to join the conversation online with #BakerEnergy.

Host or Publisher Rice University's Baker Institute