Analysts Raise 2026 Oil Price Forecasts on Geopolitical Risk
Analysts raised 2026 Brent forecasts to $63.85 citing geopolitical risks. However, a projected supply surplus and rising EV adoption may limit price upside.
Analysts have adjusted their oil price projections upward as geopolitical tensions introduce a risk premium, though persistent oversupply remains a significant headwind. A Reuters poll of 34 economists and analysts suggests that Brent Crude Oil is expected to average $63.85 per barrel in 2026, a revision from the previous estimate of $62.02. Meanwhile, crude in the United States is projected to reach an average of $60.38 per barrel, up from the January forecast of $58.72. Despite these increases, the benchmarks have averaged significantly higher year-to-date at $70.48 and $65.01, respectively.
