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Fitch Sees No Major Upside to 2026 Brent Crude Price Forecast of USD 63/bbl
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Fitch: Global Oversupply Caps 2026 Brent Crude Price at $63/bbl
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News18
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05-03-2026, 15:30
Fitch: Global Oversupply Caps 2026 Brent Crude Price at $63/bbl
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Fitch Ratings sees no significant upside to its USD 63/bbl average Brent crude price estimate for 2026.
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The effective closure of the Strait of Hormuz is expected to be temporary, limiting its long-term impact on prices.
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Global oil market oversupply, with supply growth exceeding demand, will mitigate potential oil price rises.
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Despite recent West Asia tensions and Brent prices reaching USD 82-84, oversupply is expected to absorb disruptions.
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A protracted blockage of the Strait or sustained damage to regional oil infrastructure could lead to a material price rise.
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