Oil prices will go down but won't collapse

Global oil prices are likely to remain under pressure in 2026. Supply is expected to exceed demand by as much as 4 million barrels a day. The Energy Information Administration expects inventories to continue building through 2026, reinforcing downward pressure on prices.

West Texas Intermediate, the U.S. benchmark, is forecast to average around $51 a barrel in 2026, down from roughly $58 today. Some analysts warn that extreme excess supply could push prices sharply lower, with a temporary fall toward $40 a barrel not out of the question.