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Supply outlook seen keeping oil prices subdued in 2026
Ziggy Ojiegbe Oil prices are expected to remain under pressure in 2026 as forecasts point to global supply continuing to outpace demand, reinforcing expectations of a prolonged period of low prices despite recurring geopolitical risks. Major forecasters including the U.S….
EIA predicts lower oil prices as global inventory growth extends into 2026, 2027
Ziggy Ojiegbe Brent crude oil prices are expected to average $56 per barrel in 2026 and $54 per barrel in 2027, as rising global oil inventories continue to weigh on prices, according to the US Energy Information Administration (EIA). In…
Prices enters 2026 bearish despite U.S. siege on Venezuela’s shadow oil fleet
Sopuruchi Onwuka U.S. authorities are intensifying enforcement against Venezuela’s oil exports as global crude prices post their steepest annual decline since the pandemic era. Oil prices fell sharply in 2025, with ICE Brent crude ending the year at $60.85 a…
Oil prices hang wait on conflict negotiations on Iran, Ukraine
Ease of sanctions on Iran is out of sight following sharp disagreement between the country and the United States. And the expected outcomes of the highly anticipated phone call between Presidents Vladimir Putin of Russia and Donald Trump of United…
Nigeria in fiscal chaos as oil price crash looms
Sopuruchi Onwuka Nigeria’s fiscal projections in the immediate to medium term remain vulnerable to changes in the fortune of petroleum liquids in the global commodity markets as analysts insist that the nation’s major export commodity, petroleum, will continue to suffer…
EIA revises down Brent price forecast for 2023
In its December issue Short-Term Energy Outlook, the US Energy Information Administration forecasts global oil inventories to fall by 200,000 b/d in first-half 2023 before rising by almost 700,000 b/d in second-half 2023. This forecast leaves global oil inventories higher…
