OilPrice.com (November 24)
“The international crude benchmark, Brent, could dip to the $30s per barrel handle by 2027 as oversupply could overwhelm the market, according to a JP Morgan forecast.” That is, however, beyond current consensus. “Despite the fears of a glut, analysts and investment banks don’t see oil prices moving down to $40 or below, even as oil is set to decline in the near term with strong supply from OPEC+ and the non-OPEC producers in the Americas.”
Tags: $30, $40, 2027, Analysts, Benchmark, Brent, Consensus, Crude, Fears, Forecast, Glut, Investment banks, JP Morgan, Market, Oil prices
Bloomberg (April 5)
“The plunge in oil prices over the past two days following the twin shocks of President Donald Trump’s tariffs and the surprise boost in production from OPEC+ has altered the global energy landscape with stunning speed.” The market is frantically “tossing aside expectations for 2025” as Brent crude “tumbled 13% through Thursday and Friday to just over $66 a barrel, casting new doubts on Trump’s quest to aggressively boost US fossil fuel output and achieve ‘energy dominance.’”
Tags: $66, 2025, Altered, Brent, Doubts, Energy landscape, Expectations, Fossil fuel, Market, Oil prices, OPEC, Output, Plunge, Production, Stunning, Surprise, Trump’s tariffs, Tumbled, Twin shocks, U.S.
Bloomberg (August 27)
“Wall Street is beginning to sour on the outlook for crude next year, with Goldman Sachs Group Inc. and Morgan Stanley lowering price forecasts as global supplies increase, including potentially from OPEC+.” Both banks “now foresee global benchmark Brent averaging less than $80” and expect “prices trending lower over the 12 months.”
Tags: Benchmark, Brent, Crude, Forecasts, Global supplies, Goldman Sachs, Morgan Stanley, OPEC, Outlook, Sour, Wall Street
Reuters (June 12)
“Oil’s 2020 roller coaster is on a new downward section of track. After respectively falling below $20 a barrel and turning negative in April, Brent and U.S. crude prices recovered to $40 a barrel amid coordinated supply cuts. Fresh falls in recent days make that level look more like a ceiling.”
Tags: Barrel, Brent, Ceiling, Crude, Downward, Oil, Recovered, Roller coaster, Supply cuts, U.S.
OilPrice.com (October 9)
“Now that Brent has lost more than $13 since its mid-September spike many are saying that Middle East risk is underpriced. We’re taking a different view…. Washington and Beijing still pose more of a threat to oil prices than Tehran and Riyadh.”
Tags: Beijing, Brent, China, Middle East, Oil prices, Risk, Riyadh, Spike, Tehran, Threat, U.S., Underpriced, Washington
