(Reuters) – JP Morgan has revised its oil price forecasts downward for 2025 and 2026, citing increased production from the OPEC+ alliance and a projected decline in global demand, as per a note on Monday.
The bank cut its 2025 Brent price forecast to $66 per barrel from $73 per barrel and 2026 target to $58 from $61.
The following is a list of the latest brokerage forecasts for 2025 and 2026 average prices for Brent and WTI (in $ per barrel):
Brokerage/Agency Brent WTI Forecasts as of
2025 2026 2025 2026
Goldman Sachs $69 $62 $66 $59 April 03, 2025
HSBC $73 $70 – – March 18, 2025
Barclays $74 – $70 – March 14, 2025
BofA $75 $73 – – February 24, 2025
Citi $67 $65 $63 $62 January 22, 2025
Deutsche Bank $72 $72 $68 $68 January 15, 2025
Morgan Stanley – $70 – – January 13, 2025
JP Morgan $66 $58 $62 $54 April 14, 2025
Macquarie $71 $64 $66 $60 December 05, 2024
BMI $78 – $79 – November 07, 2024
NAB $78 – – – October 06, 2024
HSBC $70 – $67 – September 30, 2024
UBS $75 – $71 – September 16, 2024
DNB $77 – – August 20, 2024
* indicates end-of-period forecast
# current as of given date, may not indicate date of revision
For a table of crude price forecasts as per Reuters’ latest monthly poll, see
(Reporting by Noel John in Bengaluru)
