JP Morgan Lowers Brent Crude Price Forecast For Second-Half 2026

JP Morgan Adjusts Brent Crude Price Outlook for Late 2026

J.P. Morgan has revised its forecast for Brent crude oil prices in 2026, citing a surprising slowdown in inventory draws and a dip in global oil demand. The financial giant now anticipates that Brent will average $86 per barrel in the third quarter and $80 in the fourth, wrapping up the year at $78.

This adjustment reflects a trend among private operators who are holding onto their stockpiles, underscoring the importance of government oil releases to support refinery activities.