Oil price forecast equity analysts link this to sustained

Equity analysts link this to sustained high cash flows for producers like ExxonMobil and Chevron, which could support dividend growth and share buybacks. Analysts from JPMorgan expect a surplus of around 2 million barrels a day for the remainder of this year and into next year. The International Energy Agency forecasts that oil supply growth will be 2.7 million barrels a day this year and 2.1 million the next, lifting an earlier estimate. TotalEnergies to Sell Non-Operated Oil Assets Offshore Norway Economists adjust oil price forecast upward as European natural gas prices rally, increasing substitution demand for oil. Such shifts may tighten crude balances and drive energy equity outperformance vs. the broader index.