Wells Fargo: Oil Prices To Stay Depressed Through 2025 on Global Oversupply 

Analysts at Wall Street bank Wells Fargo have predicted that oil prices will remain lower through 2025 due to the elevated risk of a global oversupply. According to the experts, a combination of persistent growth of U.S. shale production as well as slowing demand from key economies, especially China, are the key bearish drivers. Wells Fargo says the anticipated easing of OPEC+ production cuts by the end of 2024 further supports the likelihood of a supply surplus in 2025 despite current market tightness. Wells Fargo has predicted that global oil…