The bank maintains its long-term oil price outlook despite upside risks from tightening supply trends.
Barclays reaffirmed its 2026 average Brent crude oil price forecast at $100 per barrel, citing persistent supply deficits. The bank noted risks remain skewed higher as inventory trends point to a 6-8 million barrels per day shortfall.
The forecast remains unchanged from prior projections, with U.S. inventories nearing critical lows. Market consensus had anticipated potential adjustments amid geopolitical tensions and OPEC+ production cuts, though Barclays sees structural demand supporting prices.
No immediate market reaction was reported following the announcement.