Oil Forecasts

Crude Oil WTI

2026 Projections · 12 Banks

Closed$67.00-0.39 (-0.58%)

Updated just nowYE $63

Updated just now

Overview Forecasts Analysis Themes Technicals Macro Track Record

All Firm Projections

12 firms

Firm	Analysts	YE Target	vs Spot %	Bull/Bear	Brent Spread	Stance	Last Revised
HSBC	Kim Fustier	$73	+9.0%	$88/$58	+$5	Bullish	Jan 22
Goldman Sachs	Daan Struyven, Callum Bruce	$68	+1.5%	$85/$55	+$4	Neutral	Feb 10
Morgan Stanley	Martijn Rats	$66	-1.5%	$82/$52	+$5	Neutral	Feb 5
ANZ	Daniel Hynes	$66	-1.5%	$82/$53	+$4	Neutral	Feb 12
UBS	Giovanni Staunovo	$65	-3.0%	$80/$52	+$4	Neutral	Feb 15
Wells Fargo	Investment Institute Team	$65	-3.0%	$80/$52	+$4	Neutral	Jan 25
Barclays	Amarpreet Singh	$64	-4.5%	$80/$50	+$4	Neutral	Jan 30
JP Morgan	Natasha Kaneva	$61	-9.0%	$80/$50	+$4	Bearish	Feb 20
Bank of America	Francisco Blanch	$60	-10.4%	$78/$48	+$4	Bearish	Jan 28
Deutsche Bank	Michael Hsueh	$58	-13.4%	$76/$48	+$4	Bearish	Feb 8
Macquarie	Vikas Dwivedi	$58	-13.4%	$75/$45	+$4	Bearish	Feb 1
Citigroup	Max Layton	$55	-17.9%	$75/$45	+$4	Very Bearish	Jan 15
Consensus		$63	-5.6%	—	—	5/12 Bearish

Quarterly Targets

Q1–Q4 2026 WTI Targets by Firm

Quarterly price targets ($/bbl) grouped per firm — spot price shown as reference

JPM

BofA

UBS

Citi

HSBC

Barc

ANZ

Macq

Revision Timeline

When firms last updated their oil outlook

JPM

Feb 20, 2026

18d ago$61BearishLatest

UBS

Feb 15, 2026

23d ago$65Neutral

ANZ

Feb 12, 2026

26d ago$66Neutral

Feb 10, 2026

28d ago$68Neutral

Feb 8, 2026

30d ago$58Bearish

Feb 5, 2026

33d ago$66Neutral

Macq

Feb 1, 2026

37d ago$58Bearish

Barc

Jan 30, 2026

39d ago$64Neutral

BofA

Jan 28, 2026

41d ago$60Bearish

Jan 25, 2026

44d ago$65Neutral

HSBC

Jan 22, 2026

47d ago$73Bullish

Citi

Jan 15, 2026

54d ago$55Very Bearish