Oil price forecast 2026 uBS Global Research sees oil price

UBS Global Research sees oil price forecast 2026 at $96 per barrel, supported by robust fuel consumption patterns, creating favorable conditions for high beta oil exploration and production stocks. "Easing US oil field regulations, the availability of federal lands and the ‘drill baby drill’ mantra from the President do not appear to be bringing a change of strategy to this part of the oil industry ," wrote Guinness Global Investors analysts Jonathan Waghorn and Will Riley in a September strategy note. However, as crude oil prices fall, the EIA sees U.S. producers accelerating the decreases in drilling and well completion activity that have been ongoing through most of this year. As a result, U.S. crude oil production is set to decline from a record-high 13.6 million bpd at the end of this year to 13.1 million bpd by the fourth quarter of 2026. Oil price forecast 2026 from EIA suggests stable growth driven by declining U.S. inventory levels and tight spare capacity, leading investors to overweight energy sector allocations in their diversified portfolios.