JP Morgan anticipated that a barrel of international oil, quoted under the Brent marker, could soar to US$150 at the beginning of 2026, as a result of an unexpected increase in global demand.
JPMorgan’s head of energy equity research for Europe, the Middle East and Africa (EMEA), Christyan Malek, reported that there are capacity issues associated with an energy supercycle that are hampering the process of clearing fossil fuel inventories.
Recently, the cost of crude oil has risen due to successive OPEC+ cuts, led by Saudi Arabia and its cut of 1 million barrels per day (bpd).
Similarly, Russia implemented an export ban on its oil derivatives, which further affected the supply to the cartel countries. For example, on Friday, September 22, Brent prices were trading at approximately US$93.55 per barrel.
It is not the only debate that is brewing these days about the global energy sector. The International Energy Agency (IEA) and OPEC countries are engaged in a discussion about whether the fossil fuel ceiling will be reached in 2030.
Source: Larepublica
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