# Economists Agree: 2026 Oil price forecasts lowered as Strait of Hormuz shipping improves – Reuters poll — Octa

> A Reuters poll of 31 economists and analysts cut 2026 oil forecasts for the first time since the Iran war began. Brent is now expected to average $84.50 and WTI $79.49, with global demand growth slowing to 1 to 2 million barrels per day as China weakens.

- Date: 2026-06-30 · published 2026-06-30T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/19001-economists-agree-2026-oil-price-forecasts-lowered-as-strait-of-hormuz-shipping
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower forecasts signal that the market expects the war premium to keep fading, which eases energy and fertilizer costs for feed production. Weak Chinese demand also reduces the outlook for global consumption.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-09-18 | [Oil prices fall as Fed rate cut stirs economic worries, storage report mixed \| Reuters](https://feedsoft.ai/events/28482-oil-prices-fall-as-fed-rate-cut-stirs-economic-worries-storage-report-mixed.md) | +1.5% | -0.2% |
| BRENT | 2022-08-04 | [Oil prices hit lowest since Ukraine invasion amid recession fears \| Reuters](https://feedsoft.ai/events/12795-oil-prices-hit-lowest-since-ukraine-invasion-amid-recession-fears-reuters.md) | +1.9% | -2.8% |
| BRENT | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.5% | -2.4% |
| BRENT | 2021-03-25 | [Oil prices drop 4% as new lockdowns undermine hopes for economic recovery](https://feedsoft.ai/events/10318-oil-prices-drop-4-as-new-lockdowns-undermine-hopes-for-economic-recovery.md) | -0.8% | +1.8% |
| BRENT | 2021-12-01 | [Oil prices sink again as traders use Omicron as an excuse to hit 'sell' \| Reuters](https://feedsoft.ai/events/6300-oil-prices-sink-again-as-traders-use-omicron-as-an-excuse-to-hit-sell-reuters.md) | +6.8% | +9.0% |
| WTI | 2024-09-18 | [Oil prices fall as Fed rate cut stirs economic worries, storage report mixed \| Reuters](https://feedsoft.ai/events/28482-oil-prices-fall-as-fed-rate-cut-stirs-economic-worries-storage-report-mixed.md) | +0.3% | -1.2% |
| WTI | 2022-08-04 | [Oil prices hit lowest since Ukraine invasion amid recession fears \| Reuters](https://feedsoft.ai/events/12795-oil-prices-hit-lowest-since-ukraine-invasion-amid-recession-fears-reuters.md) | +1.5% | -2.7% |
| WTI | 2024-10-16 | [Oil prices hold at 2-week low on lower oil demand growth forecasts](https://feedsoft.ai/events/28030-oil-prices-hold-at-2-week-low-on-lower-oil-demand-growth-forecasts.md) | +2.2% | -3.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1233126/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.