Standard Chartered raises oil price forecast through 2027 — OilPrice
Standard Chartered analysts have raised their forecasts for average Brent and WTI oil prices for 2026–2027, citing an unstable security situation in the Middle East and limited supply reserves. OilPrice reports.
The bank expects the average Brent price to reach $92 per barrel in 2026, instead of the previously forecast $85.50. The forecast for WTI was raised from $80.25 to $86 per barrel. For 2027, Standard Chartered forecasts the average price of Brent and WTI at $89.50 per barrel, compared with the previous estimate of $77.50.
Price declines amid export recovery
Oil prices fell on Tuesday after previous gains. November Brent futures lost 1.5% and traded at $103.72 per barrel, while October-delivery WTI fell 2.2% to $90.62.
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According to the publication, Middle Eastern oil exports rose to 15.5 million barrels per day in September, more than 80% of the pre-war level and the highest figure since the conflict began seven months ago. Saudi Arabia increased exports from about 2.45 million barrels per day in August to around 5.4 million barrels per day in September after part of the damaged East–West pipeline was brought back into operation.
Risks for diesel fuel and the gas market
Standard Chartered believes that the oil market is simultaneously affected by structural tightness and political risks. According to the analysts, even if negotiations between the United States and Iran resume, de-escalation may be gradual, while periodic increases in tensions will sustain a premium in prices.
The analysts also drew attention to record diesel prices and discussions in the United States about potentially restricting its exports. Meanwhile, European natural gas futures fell to €69.30 per megawatt-hour on Tuesday, their lowest level in a month. European Commissioner for Energy and Housing Dan Jørgensen urged EU states to maintain higher rates of gas injections into storage and consider measures to reduce demand for gas and electricity.
