Oil Market Update – April 2025

In April 2025, the global oil market experienced a modest recovery following subdued performance earlier in the year. The average price of Brent crude rose to approximately 68.13 US dollars per barrel, an increase from 66.40 dollars in March. WTI crude oil followed a similar trend, averaging around 65.20 dollars per barrel for the month.

The first week of April saw Brent prices hovering near 67.50 dollars and WTI at around 64.50 dollars, supported by signs of tightening inventories in the United States. By the second week, stronger-than-expected demand data from China helped lift Brent to 68.00 dollars and WTI to 65.00 dollars. Mid-month, prices peaked with Brent reaching about 69.00 dollars and WTI around 66.00 dollars as OPEC+ producers signaled firm compliance with production targets. However, some profit-taking and repositioning in the market during the third week led to a slight pullback. Prices then stabilized, with Brent closing the month near 67.90 dollars and WTI at 65.10 dollars.

On the supply side, U.S. crude stock draws contributed to the bullish tone during the first half of the month. OPEC+ maintained production discipline, avoiding any significant increases that might have flooded the market. On the demand side, optimism returned, particularly from Asia, where data indicated improving consumption and industrial activity.

Overall, the market outlook in April remained cautiously positive. Analysts expected Brent crude to stay within a 67 to 69 dollar range over the short term, provided there were no unexpected supply disruptions or sharp declines in demand. With both fundamentals and sentiment improving modestly, April marked a month of relative stability in the otherwise volatile energy market.