JP Morgan lowers Brent crude price forecast for second-half 2026 (opens original article in a new tab)

JP Morgan reduced its 2026 second-half Brent crude price forecast, citing lower-than-expected OECD inventory draws and weaker demand, with projections of $86 in Q3, $80 in Q4, and $78 by year-end.

• JP Morgan lowered its 2026 second-half Brent crude forecast due to lower OECD inventory draws and weaker demand.
• Brent is expected to average $86 in Q3, $80 in Q4, and $78 by year-end.
• OECD inventories are projected to draw 50 million barrels between April and July, with potential production cuts in early 2027.