GK and monthly revision

JP Morgan lowers Brent crude price forecast for second-half 2026

J.P. Morgan has revised its Brent crude oil price forecast for the second half of 2026, citing weaker inventory draws and declining oil demand. The new estimates suggest an average price of $86 per barrel in Q3 and $80 in Q4, with a year-end projection of $78. This adjustment highlights the importance of government stock releases for refinery operations, indicating potential implications for energy policy and market stability.