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Oil Prices Keep Rising Despite Plenty of Supply. JPMorgan Explains Why - Mitrade
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Oil Prices Keep Rising Despite Plenty of Supply. JPMorgan Explains Why Mitrade
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JPMORGAN GLOBAL RESEARCHJ.P. Morgan Global Research
Global Commodities: Oil Outlook 2026/2027—Heavy Lifting
The desk anticipates a significant oversupply in the global oil market, which is expected to exert downward pressure on prices through 2026 and 2027. Per the full note from J.P. Morgan, global oil supply is projected to expand at three times the rate of demand growth in 2026, leading to widening surpluses. This outlook aligns with our consensus target of 1.075 for oil prices, with a range from 1.04 to 1.12, as we see a divergence in expectations among major firms regarding future price levels.
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