Forecast of Brent crude oil price at $65 in 2026
According to TASS news agency, based on a survey of international energy experts, the average Brent crude oil price in 2026 is expected to range between $61 and $65 per barrel.
Kirill Bakhtin, Head of the Russian Equity Analysis Center at BCS Investment Company, stated that the company’s forecast for the average Brent price in 2026 is around $63 per barrel.
He said: “We expect producers to reduce output compared to current levels due to high production costs, while some consumers have the capacity to refill their commercial and strategic reserves. Additionally, supply risks have appeared relatively regularly in recent months.”
Meanwhile, Andrey Polishchuk, Senior Analyst at Euler, predicted that the average Brent price in 2026 would reach about $61.7 per barrel.
He added: “We expect prices to decline compared to the 2025 average, as supply in the global oil market will increase with OPEC production growth.”
Mark Shumilov, Resource Analyst at Renaissance Capital, also said that if geopolitical conditions remain unchanged, the market in 2026 could face a significant surplus, especially if OPEC+ maintains production at current quotas or higher.
He emphasized that this could be the main factor restraining global prices. In our estimates, the average Brent price in 2026 is around $65, although prices may drop below $60 per barrel at certain times.
Nikolay Dudchenko, Analyst at Finam Financial Group, also believes that the average oil price will be between $63 and $65 per barrel.
He said: “We believe that the average Brent crude price in 2026 will follow a downward trend and stabilize in the $63–$65 range.”
The expert added that market concerns about oversupply will continue to pressure prices, although geopolitical developments could provide some support.
—Source: Tasnim
