A Reuters poll of analysts has revised higher its 2026 average crude price outlook after factoring in prolonged disruption to Gulf exports, falling inventories, and anticipated stronger Chinese crude buying once domestic stockpiles are drawn down. The consensus now sees Brent averaging $89.05 per barrel, up from the previous $85.08 forecast, while WTI was lifted to $83.90 from $80.20.
What it moves
xyz:BRENTOIL, xyz:CL, xyz:NATGAS, xyz:COPPER, xyz:USAR, xyz:SP500, mkts:US500
Bull vs bear
Bulls read the upgrade as confirmation that structural supply tightness will keep crude supported well into 2026, especially with Chinese restocking and OPEC+ discipline. Bears counter that the Gulf disruption may prove shorter-lived than priced, Chinese demand could disappoint, and higher forecasts risk inviting fresh non-OPEC supply response that caps the rally.