Analysts Emily Ashford and Paul Horsnell from Standard Chartered Bank stated in their report that they have lowered the 2025 Brent Crude Oil Product price forecast by $5 to $87 per barrel and the first quarter forecast by $7 to $82 per barrel. They said: "The prices for 2025 are below our expectations, so we will adjust our forecast to align with the market to reflect trends at the beginning of 2025. We believe that the Global fundamentals are more supportive than the market generally expects, but it is clear that the market's negative sentiment regarding the outlook for 2025 remains entrenched."