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2025-12-10 21:01:26
[Supply Flood Unstoppable, Five Major Wall Street Banks Bearish, Oil Prices May Fall to $59 in 2026] ⑴ Mainstream Wall Street institutions generally expect that the current international oil price trend, experiencing its worst year since the pandemic, will continue into 2026. ⑵ According to the average forecast of five major investment banks—Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley—Brent crude futures prices may further decline to approximately $59 per barrel in 2026. ⑶ The core basis for this bearish consensus is the expected oversupply of approximately 2.2 million barrels per day in the global oil market in 2026. ⑷ The main reason for the oversupply is the expected growth in global production exceeding the growth rate of demand. ⑸ Among the five major banks, Goldman Sachs is the most pessimistic, predicting an average Brent crude price of $56 per barrel in 2026; Citigroup is relatively optimistic, maintaining its forecast of $62 per barrel. (6) Brent crude oil is currently priced around $62 per barrel. If the consensus forecast comes true, it means that oil prices still have room to fall further in the coming year, with supply fundamentals being the main suppressing force.
