Oil prices could drop to $50 a barrel by 2026

Business Nov 12, 2025

Oil prices are holding steady—WTI is around $61 a barrel and Brent's just above $65.
Everyone's waiting for new forecasts from OPEC and the IEA, which should finally give some answers about where oil prices might head in 2026.

Global oil supply expected to see record surplus

The IEA says we could see a record surplus in global oil supply by 2026, with inventory builds averaging more than two million barrels a day.
This means oil is piling up, and Brent prices could drop to around $50 a barrel in early 2026, according to EIA forecasts.

US oil production near all-time highs

US oil production is set to stay near all-time highs through 2026, according to the EIA. That just adds more pressure on prices.
Even market signals—like WTI's narrow price spread—suggest there's plenty of supply and not much chance of higher prices soon.