Brent Crude Stabilizes Near Sixty Four Dollars as Global Supply Wave Approaches

Venezuelan Supply Impact

Resumed Venezuelan exports under new agreements are expected to ease regional refining bottlenecks and exert downward pressure on Brent-linked grades. Supertankers have reportedly begun departing Venezuelan waters for the first time in months.

2026 Bearish Targets

The EIA projects Brent will average $56 for the full 2026 year, reflecting a market that is fundamentally well-supplied. Unless a full-scale disruption of Middle East logistics occurs, the path of least resistance for oil remains lower.