Brent crude oil prices are expected to stay at approximately $75 per barrel for the next two to three months due to weak demand from China and increased supply from the US under President Donald Trump.
Experts predict a bearish outlook in the short term, with the possibility of further declines as OPEC+ nations increase production.
India's oil minister, Hardeep Singh Puri, assures oil consumers, including India, that there will be sufficient supply in the future, as major producers like the US and Brazil plan to boost output.
On November 15, Brent was trading at around $71 per barrel, a significant decrease from the highs of $90 seen in April, primarily due to concerns over demand and geopolitical tensions in the Middle East.
The price dropped to a three-year low of $69 on September 10, reflecting ongoing market uncertainties.