Oil Prices: JPMorgan Predicts 50% Drop

JPMorgan predicts a significant oil supply surplus in the next two years, potentially leading to a 50% price drop by 2027. Despite stronger-than-expected demand, supply growth, particularly from the Americas, is outpacing demand, setting the stage for potential price drops. The surplus is expected to reach 2.8 million barrels per day in 2026, unless governments intervene.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.