UBS Raises Oil-Price Forecast on Tight Supplies, Falling Inventories
Dow Jones
Sep 08
1154 GMT - UBS raised its oil-price forecast as the market continues to face tight supply and declining inventories. Brent crude is now expected to reach $95 a barrel by year-end, up from the previous forecast of $85 a barrel. Prices are supported by lower global exports, falling oil inventories and geopolitical risks in the Middle East, analysts at the bank say. Chinese crude imports have also recovered from their June lows, suggesting stronger demand in the coming months. Overall, UBS expects crude prices to remain elevated, with Brent forecast at $90 a barrel in March 2027. The global oil benchmark currently trades 1.7% higher at $98.68 a barrel.
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