Bank of America warned that, in a worst-case scenario, Brent crude oil prices could plummet to USD50 per barrel within weeks in wake of a negative demand shock sparked by U.S. tariffs and an unexpected OPEC+ production increase. The bank’s forecast of an average Brent price of USD70 per barrel for 2025 is now at risk.The supply-demand balance could deteriorate by more than 1 million barrels per day over the coming quarters, potentially driving Brent crude prices to as low as USD50 per barrel within weeks, the report indicated.Related NewsUS Takes Initiative to Reach Out to CN for Tariff Talks, Says CCTV's Media ArmThe report argued that the U.S. imposing higher-than-expected tariffs on imported goods represents a negative supply shock, akin to a surge in oil prices for U.S. consumers and businesses. These tariffs also pose a negative demand shock to the rest of the world. As costs rise, demand is expected to subside. The report further cautioned that, due to the uncertainty and lessened demand from the trade war, global economic growth could shrink by at least half a percentage point from the current estimate of 3.1%.