# Analysts hike oil outlook on geopolitical risks, oversupply concerns limit upside | Reuters

> A Reuters poll of 34 economists and analysts raised its 2026 oil price forecasts on geopolitical supply risks, though oversupply concerns remain. Brent is now projected to average $63.85 per barrel in 2026, up from $62.02, and WTI $60.38, up from $58.72.

- Date: 2026-02-27 · published 2026-02-27T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/20771-analysts-hike-oil-outlook-on-geopolitical-risks-oversupply-concerns-limit
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher forecasts signal expectations of firmer energy costs, which support biofuel feedstock and input prices, though analysts still see a surplus capping gains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-11-13 | [Oil settles up 1% as OPEC report dampens demand concerns \| Reuters](https://feedsoft.ai/events/33341-oil-settles-up-1-as-opec-report-dampens-demand-concerns-reuters.md) | -0.4% | -7.2% |
| WTI | 2024-03-14 | [Oil prices climb as revised IEA outlook signals tighter market \| Reuters](https://feedsoft.ai/events/31368-oil-prices-climb-as-revised-iea-outlook-signals-tighter-market-reuters.md) | +2.6% | +6.4% |
| WTI | 2017-09-12 | [Oil edges up as OPEC output falls, offsets hurricane concerns](https://feedsoft.ai/events/69135-oil-edges-up-as-opec-output-falls-offsets-hurricane-concerns.md) | +3.8% | +3.2% |
| WTI | 2021-07-21 | [Oil climbs over 4% despite rise in U.S. inventories \| Reuters](https://feedsoft.ai/events/6367-oil-climbs-over-4-despite-rise-in-u-s-inventories-reuters.md) | +6.4% | -1.2% |
| WTI | 2019-11-14 | [Oil Rises on Signs of U.S. Supply Drop, OPEC’s Shale Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/56235-oil-rises-on-signs-of-u-s-supply-drop-opec-s-shale-outlook-energy-news-top.md) | -0.2% | +3.9% |
| BRENT | 2023-11-13 | [Oil settles up 1% as OPEC report dampens demand concerns \| Reuters](https://feedsoft.ai/events/33341-oil-settles-up-1-as-opec-report-dampens-demand-concerns-reuters.md) | -2.0% | -8.1% |
| BRENT | 2024-03-14 | [Oil prices climb as revised IEA outlook signals tighter market \| Reuters](https://feedsoft.ai/events/31368-oil-prices-climb-as-revised-iea-outlook-signals-tighter-market-reuters.md) | +2.2% | +7.9% |
| BRENT | 2017-09-12 | [Oil edges up as OPEC output falls, offsets hurricane concerns](https://feedsoft.ai/events/69135-oil-edges-up-as-opec-output-falls-offsets-hurricane-concerns.md) | +2.7% | +2.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/analysts-hike-oil-outlook-geopolitical-risks-oversupply-concerns-limit-upside-2026-02-27/

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