Mohammed Imran

Global oil prices have shown remarkable resilience amid softer economic data from two major consumers: the US and China

WTI plunged 2.5 per cent over the past five trading sessions to $58.05/bbl, shedding 5.5 per cent in the last month and more than 20 per cent since mid-June highs near $73/bbl

Oil price outlook: While the outlook for the oil market remains bearish with expectations for a large surplus in 2026, robust refinery margins offer counterbalance

Mohammed Imran, research analyst at Mirae Asset Sharekhan believes that global market will remain in surplus of 0.5-0.7mbpd in 2026

Crude oil Outlook: WTI to trade $57-$62/bbl near-term, with upside to $65+ on Russian disruptions. Bearish base case holds unless geopolitics escalate.

Global crude oil supplies are poised for a deepening glut, with prices likely to decline toward $50 per barrel by mid-2026 amid sluggish demand growth and robust production

Oil prices are projected to trade in a broader $58-$64 range in the coming weeks

Opec+ is unwinding cuts, restoring 2.72 million barrels per day by November, with Iraq adding 500 thousand barrels per day via Kurdish pipelines, worsening a 0.5 million barrels per day surplus

The decline reflects a US-led trade war, exacerbating oversupply amid Opec+'s 2.72 mb/d restoration and a 0.5 mb/d surplus

WTI crude oil prices opened weaker, tumbling over 4 per cent in early trading, a sharp reversal from the prior week's modest 2.2 per cent.

Crude oil prices continue to trade within a broader range of $5-$7, reflecting the persistent tug-of-war between supply excess and geopolitical flare-ups

Brent crude faces limited upside above $70, as higher prices may dampen Chinese demand, while increased OPEC+ production is helping offset geopolitical risks

Since the conclusion of the Iran-Israel conflict, oil prices have retreated and stabilised within a broader trading range of around $6 per barrel

Geopolitical developments are a primary driver of market uncertainty. The Trump-Putin talks could either ease concerns over US sanctions on Russian oil or escalate tensions if negotiations falter.

Oil price outlook: Crude oil prices are likely to remain supported by geopolitical uncertainty and tightening inventories in the near term

Oil prices: A meaningful upside in oil prices seems limited as the recent rally has been driven more by geopolitical risks than by fundamental demand

Oil markets may face an oversupply in the second half of 2025, alongside potentially weakened demand due to Trump's inclination towards universal tariffs

Oil price outlook: Oil prices have declined 17 per cent on a year-to-date basis, with April marking 18 per cent fall, the biggest monthly drop in prices since November 2021

Crude prices have had the most volatile week in four years as the prices tumbled over 20 per cent in 4 trading sessions amidst the trade war turmoil

Oil prices: The 90-day relief on reciprocal tariffs could see crude oil prices edging a bit higher towards $65. However, overall, we expect prices to trade range bound between $65-$58