Conducted by Haynes Boone with participation from 28 banks.

The survey is in its 12th year and has a record number of participants.

WTI prices anticipated to average $58.30 in 2025.

Previously expected average was $61.89 for 2024.

Prices expected to stabilize between $56.24 and $57.24 through 2034.

Increased OPEC and U.S. production contributing to price adjustments.

Stable global oil demand forecasts influencing the long-term outlook.

Focus on fundamentals rather than short-term trade policy impacts.

Banks show confidence in market rebalancing despite volatility.

U.S. shale production may plateau with WTI prices in low $60s.

Need for $65 per barrel for profitable drilling indicated by executives.