BRIEF-JP Morgan Expects Brent Prices To Close 2025 Firmly Below $70, With WTI At $64

Reuters11-22

Nov 22 (Reuters) - JP MORGAN:

* SAYS IN 2025, ITS LOOKING FOR A LARGE 1.3 MBD SURPLUS IN OIL AND AN AVERAGE BRENT OF $73, BUT EXPECTS PRICES TO CLOSE YEAR FIRMLY BELOW $70, WITH WTI AT $64

* SAYS IN 2026, ANOTHER YEAR OF LARGE SURPLUSES WILL DRIVE BRENT PRICES BELOW $60 BY YEAR-END, WITH AN AVERAGE BRENT FORECAST OF $61 AND WTI AT $57

((Reuters.Briefs@thomsonreuters.com;))

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