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JPM: Excess Supply May Lead Brent Oil to Fall to ~US$30 by End-27
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If oil supply continues to grow faster than demand in the coming years, a structural imbalance will occur, exerting ongoing pressure on the oil market, JP Morgan said in a report. Even if demand continues to grow faintly, the growth in oil supply will surpass the rate of demand growth, with supply growth expected to reach three times the demand growth this year and next. It is anticipated that oil prices could slump by as much as 50% by the end of 2027, with Brent crude oil prices dropping from the current approximately US$63.5 per barrel to around US$30. AASTOCKS Financial News Website: www.aastocks.com |
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