JPMorgan Cuts Oil Outlook

JPMORGAN LOWERS OIL PRICE OUTLOOK JPMorgan cut its Brent crude forecast for the second half of 2026, citing weaker inventory draws and softer-than-expected demand.

The bank now sees Brent averaging $86 per barrel in Q3, $80 in Q4, and ending 2026 at $78.

JPMorgan also warned that excess supply could require production cuts in early 2027.