J.P. Morgan forecasts falling oil prices until 2027

J.P. Morgan Bank expects oil prices to decline in 2026 and 2027, with the average price of Brent crude dropping to $78 and $64 per barrel, respectively. This forecast is based on improved supply outlooks and stabilized global markets following a period of geopolitical tensions. The reduction in geopolitical risks and the return of shipping activity lessen the risk premiums on prices and weaken the pressures that had supported oil prices in recent months.

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