(Reuters) - JP Morgan has revised its oil price forecasts downward for 2025 and 2026, citing increased production from the OPEC+ alliance and a projected decline in global demand, as per a note on Monday.

The bank cut its 2025 Brent price forecast to $66 per barrel from $73 per barrel and 2026 target to $58 from $61.

The following is a list of the latest brokerage forecasts for 2025 and 2026 average prices for Brent and WTI (in $ per barrel):

Brokerage/Agency Brent WTI Forecasts as of

2025 2026 2025 2026

Goldman Sachs $69 $62 $66 $59 April 03, 2025

HSBC $73 $70 - - March 18, 2025

Barclays $74 - $70 - March 14, 2025

BofA $75 $73 - - February 24, 2025

Citi $67 $65 $63 $62 January 22, 2025

Deutsche Bank $72 $72 $68 $68 January 15, 2025

Morgan Stanley - $70 - - January 13, 2025

JP Morgan $66 $58 $62 $54 April 14, 2025

Macquarie $71 $64 $66 $60 December 05, 2024

BMI $78 - $79 - November 07, 2024

NAB $78 - - - October 06, 2024

HSBC $70 - $67 - September 30, 2024

UBS $75 - $71 - September 16, 2024

DNB $77 - - August 20, 2024

* indicates end-of-period forecast

# current as of given date, may not indicate date of revision

For a table of crude price forecasts as per Reuters’ latest monthly poll, see