Brent Crude Stabilizes near Sixty Eight Dollars on Persian Gulf Shipping Risks

The 2026 Supply Wave

The EIA forecasts Brent to average $56 in 2026, a significant decrease from 2025 levels. This bearish outlook is driven by a projected increase of 1.4 million barrels per day in non-OPEC production, which is expected to saturate the market.

Saudi Pricing Strategy

Saudi Arabia cut prices for its main crude grade sold to Asia to the lowest since late 2020. This move signals a strategic shift to defend market share as global competition for Asian demand intensifies.