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A Reuters poll of 32 experts raised the average forecast for Brent crude in 2026 to $92.88 a barrel, up from $89.05 in the September poll, putting it above $90 for the first time since May. The forecast for U.S. West Texas Intermediate also rose, to $86.60 from $83.90. Analysts attributed the outlook to disruptions to oil flows from the Middle East and declining inventories, despite the pressure high prices are putting on consumption. They forecast global demand would fall by about 2.5 million barrels a day in 2026. Sources said the seven key OPEC+ countries were expected to leave December production targets unchanged at their upcoming meeting.
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