Oil Prices Predicted to Plummet in 2026-2027

Major investment banks predict a grim future for the oil industry, with significant price drops in 2026 and 2027. JPMorgan forecasts Brent crude at $58 and WTI at $54 in 2026, while Goldman Sachs sees Brent at $56 and WTI at $52 in 2027. These predictions are due to persistent oversupply, despite strong demand. OPEC Plus and US shale producers are increasing production, leading to a potential supply glut of four million barrels per day by 2026. Banks like Macquarie and JPMorgan warn of a bearish outlook, potentially leading to a major shift in OPECs policy and a significant drop in oil prices.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.