In a report despatched to Rigzone late Tuesday by the Macquarie workforce, the corporate revealed its newest oil value forecasts for 2025 and 2026.
Based on that report, Macquarie sees the Brent value averaging $67.95 per barrel this yr and $60.75 per barrel subsequent yr. Macquarie projected within the report that the West Texas Intermediate (WTI) oil value will common $64.13 per barrel in 2025 and $56.63 per barrel in 2026.
The Brent value will common $68 per barrel within the third quarter, $63 per barrel within the fourth quarter, $57 per barrel within the first quarter of subsequent yr, $59 per barrel within the second quarter, $60 per barrel within the third quarter, and $67 per barrel within the fourth quarter of 2026, Macquarie forecast within the report.
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The corporate predicted within the report that the WTI value will are available in at $63.50 per barrel within the third quarter of 2025, $58.50 per barrel within the fourth quarter, $53.50 per barrel within the first quarter of 2026, $55 per barrel within the second quarter, $55.50 per barrel within the third quarter, and $62.50 per barrel within the fourth quarter.
In a report despatched to Rigzone again in June by the Macquarie workforce, Macquarie projected that Brent oil would common $70.64 per barrel in 2025 and $64.50 per barrel in 2026. In that report, Macquarie noticed the WTI value coming in at $66.53 per barrel in 2025 and $60.38 per barrel in 2026.
“We’re lowering our FY’25 oil value outlook, with WTI averaging ~$64 per barrel, down from ~$67 per barrel,” Macquarie strategists, together with Vikas Dwivedi, the corporate’s world vitality strategist, mentioned in Macquarie’s newest report.
“Equally, we lowered our FY’26 oil value outlook, with WTI averaging ~$57 per barrel, down from $60 per barrel,” they added.
Within the report, the strategists mentioned they “protect” their “view of a closely oversupplied oil market by YE25 and 2026”.
“The unpredictable nature of the Trump administration’s home and overseas coverage has created uncertainty amongst oil market forecasters and impacted provide and demand expectations,” they famous.
“To this point, value volatility has been pushed by just a few foremost objects together with (1) commerce battle 2.0, (2) current shift in OPEC technique, and (3) geopolitical occasions, most just lately the reinvigorated Russia-Ukraine battle,” the strategists went on to state.
“All instructed, our 2025 balances stay terribly lengthy, with giant NOPEC provide progress led by the Americas. Additional, sub-trend demand progress is exacerbating our expectations for oversupply,” they continued.
Rigzone has contacted the White Home, the U.S. Division of Power, OPEC, the Division of Data and Press of the Russian Ministry of Overseas Affairs, and the Press Workplace of the Ministry of Overseas Affairs of Ukraine for touch upon Macquarie’s newest report. On the time of writing, not one of the above have responded to Rigzone.
A J.P. Morgan analysis observe despatched to Rigzone on September 11 by Natasha Kaneva, head of world commodities technique on the firm, confirmed that J.P. Morgan anticipated the Brent crude value to common $66 per barrel in 2025 and $58 per barrel in 2026. In that observe, J.P. Morgan projected that the WTI crude oil value would common $62 per barrel this yr and $53 per barrel subsequent yr.
Based on its newest brief time period vitality outlook, which was launched on September 9, the U.S. Power Data Administration (EIA) expects the Brent spot value to common $67.80 per barrel in 2025 and $51.43 per barrel in 2026. The EIA forecast in its newest STEO that the WTI spot value will common $64.16 per barrel in 2025 and $47.77 per barrel in 2026.
To contact the creator, e mail andreas.exarheas@rigzone.com
