# Saudi Oil Rebounds: HSBC Raises Outlook as Exports Near Pre-War Levels

> HSBC raised its forecast for Saudi crude production to 8.3 million barrels per day in the fourth quarter of 2026 and 9.8 million in 2027, while Saudi exports recovered to about 7 million barrels per day in October. JPMorgan estimated that global oil supply exceeded demand by about 1.4 million barrels per day in October as Middle East exports recovered.

- Date: 2026-11-05 · published 2026-11-06T00:15:03.604Z
- Category: trade · region Saudi Arabia · magnitude medium
- Page: https://feedsoft.ai/events/82808-saudi-oil-rebounds-hsbc-raises-outlook-as-exports-near-pre-war-levels
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher Saudi and Gulf exports add supply to a market already estimated to be in surplus, creating downside pressure on crude prices and lowering feed and freight energy costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -2.2% | -1.1% |
| WTI | 2020-09-07 | [Oil falls after Saudi cuts prices, China slows imports](https://feedsoft.ai/events/7475-oil-falls-after-saudi-cuts-prices-china-slows-imports.md) | -6.2% | -1.4% |
| WTI | 2019-06-03 | [Oil falls as trade worries mount, Saudi comments limit losses](https://feedsoft.ai/events/11307-oil-falls-as-trade-worries-mount-saudi-comments-limit-losses.md) | +0.9% | +9.0% |
| WTI | 2025-04-06 | [Oil prices slide 2% to near 4-year low as US trade conflict fuels recession fears \| Reuters](https://feedsoft.ai/events/6318-oil-prices-slide-2-to-near-4-year-low-as-us-trade-conflict-fuels-recession.md) | -0.8% | -6.8% |
| WTI | 2017-10-31 | [Oil approaches 2-year highs but US export increase looms crude exports \| The National](https://feedsoft.ai/events/68150-oil-approaches-2-year-highs-but-us-export-increase-looms-crude-exports-the.md) | +5.9% | +7.1% |
| BRENT | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -5.8% | -1.3% |
| BRENT | 2020-09-07 | [Oil falls after Saudi cuts prices, China slows imports](https://feedsoft.ai/events/7475-oil-falls-after-saudi-cuts-prices-china-slows-imports.md) | -6.1% | -7.7% |
| BRENT | 2019-06-03 | [Oil falls as trade worries mount, Saudi comments limit losses](https://feedsoft.ai/events/11307-oil-falls-as-trade-worries-mount-saudi-comments-limit-losses.md) | -2.9% | +2.1% |

## Sources

- leaders-mena.com: https://www.leaders-mena.com/saudi-oil-rebounds-hsbc-raises-outlook-as-exports-near-pre-war-levels/

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