Crude oil price can drop to $55-60 a barrel by December 2025: Premasish Das

Crude oil markets are pricing in a fair amount of uncertainty at the current levels, Das said. That's why oil had dropped below $60 for a time-before the West Asia tensions pushed it back up

It has been a volatile first half for crude oil prices as they dealt with geopolitical developments and US’ tariff-related threats. Singapore-based Premasish Das, executive director for oil markets research and analysis at S&P Global Commodity Insights, tells Puneet Wadhwa on the sidelines of their Commodity Market Insights Forum in New Delhi that the oil markets are expecting oversupply and weak demand in the second half of 2025. Edited excerpts:

 

How are the oil markets approaching the July 9 deadline on tariffs?

 

It’s very uncertain. Initially, the general thinking was that within 90 days of the pause, things would become