New Delhi, June 27 -- Global crude oil prices are likely to see downside, weighed down by the de-escalation of the Israel-Iran conflict, soft demand and increasing supply, revealed a latest research report by ICICI Bank.

On the demand side, the report believes that if the negative impulse regarding the trade war remains in place, it will lead to depressed demand.

Additionally, crude oil demand is expected to remain flat in 2025, coming in at relatively unchanged levels of 102.9mbpd as was seen in 2024, taking into account the subdued global growth momentum.

On the supply side, the global supply of crude followed an upward trajectory on a sequential basis, led by higher production from OPEC, while non-OPEC supply continued to remain fai...