S&P warns oil could hit $80 to $90 by 2026
Business
Heads up: oil prices could climb to $80 to $90 a barrel by late 2026, according to S&P Global Commodity Insights.
The main reasons? Demand is bouncing back and inventories are getting restocked.
Worldwide fuel use is set to pass 100 million barrels a day this year, finally hitting pre-pandemic levels again.
Iran export uncertainty keeps prices high
Uncertainties like ongoing West Asian tensions and unclear Iranian exports are expected to keep prices high.
If Iran manages unrestricted exports, Iranian crude production could rise to around 3 million barrels per day in the second half of 2026, helping balance supply.
Meanwhile, India's rising energy demand means experts are urging the country to mix conventional fuels with renewables for a more stable future.