🚨 OCBC Slashes Brent Oil Price Forecasts Through Q2 2027
OCBC Group Research cut its Brent crude forecasts through Q2 2027 after oil shipments and tanker traffic through the Strait of Hormuz rebounded following the US–Iran memorandum of understanding.
The bank said expectations of supply normalization have pushed oil prices back toward pre-conflict levels, reviving concerns of a potential global supply glut.
Revised Brent forecasts: Q3 2026 $75/bbl (from $85), Q4 2026 $75 (from $80), Q1 2027 $73 (from $75), Q2 2027 $71 (from $75).
OCBC Group Research cut its Brent crude forecasts through Q2 2027 after oil shipments and tanker traffic through the Strait of Hormuz rebounded following the US–Iran memorandum of understanding.
The bank said expectations of supply normalization have pushed oil prices back toward pre-conflict levels, reviving concerns of a potential global supply glut.
Revised Brent forecasts: Q3 2026 $75/bbl (from $85), Q4 2026 $75 (from $80), Q1 2027 $73 (from $75), Q2 2027 $71 (from $75).