Crude Oil Price Forecast for Next Week

Published Date: December 29, 2025
Updated Date: January 03, 2026
By Team Choice

Crude Oil Price Forecast for Next Week (5th - 9th January 2026)

US Oil prices witnessed a sideways to bearish week, declining by around -3% after failing to sustain above the $59–$62 resistance zone. Prices eventually closed the week at $57.28, remaining below key short-term levels. Despite geopolitical risks stemming from Ukrainian drone strikes on Russian oil facilities, tightening US sanctions on Venezuelan exports, and elevated Russia-Ukraine tensions, the market continues to face oversupply concerns, supported by record US production of 13.87 million bpd in October. With expectations that the upcoming OPEC+ meeting may keep output hikes on pause, the near-term bias remains cautious. Immediate support is seen around $56–$54, and any failure to hold this zone could extend downside pressure.

MCX Crude Oil futures displayed sideways momentum with a bearish bias, registering a decline of 153 points over the week and closing at 5,155. Prices remain below all key moving averages, with the 20-50-100-200-DEMA placed at 5,228, 5,298, 5,378 and 5,458 respectively, reinforcing overhead resistance. The broader price structure indicates consolidation near lower levels after repeated rejection from higher zones. Open interest increased by +2,200 lots alongside falling prices, indicating fresh short build-up and reinforcing the cautious undertone in the market. Technically, the daily chart reflects a descending structure, with prices trading below a falling trendline and remaining under major moving averages. RSI is hovering in the low-40 zone, signaling weak momentum without entering oversold territory.

Overall momentum for remains sideways to bearish. Traders are advised to stay cautious, monitor price behavior around key support zones, and wait for a clearer reversal signal before initiating fresh long positions.