Phillip Nova's Priyanka Sachdeva said in the comments that oil prices in the first quarter of 2026 may fluctuate in the range of $55-65 per barrel. The senior market analyst said, “The dominant theme of the entire market remains the imbalance between supply and demand. “Unless fundamentals indicate a substantial recovery in demand in 2026, the price trend is likely to remain sluggish,” the analyst said. “Market participants are awaiting comments from oil producers at the OPEC+ meeting scheduled for January 4 and any signals about production strategies,” the analyst added. West Texas Intermediate crude oil futures rose 0.6% to $57.74 a barrel in recent months; Brent crude oil futures rose 0.5% to $61.17 a barrel in recent months.

Phillip Nova's Priyanka Sachdeva said in the comments that oil prices in the first quarter of 2026 may fluctuate in the range of $55-65 per barrel. The senior market analyst said, “The dominant theme of the entire market remains the imbalance between supply and demand. “Unless fundamentals indicate a substantial recovery in demand in 2026, the price trend is likely to remain sluggish,” the analyst said. “Market participants are awaiting comments from oil producers at the OPEC+ meeting scheduled for January 4 and any signals about production strategies,” the analyst added. West Texas Intermediate crude oil futures rose 0.6% to $57.74 a barrel in recent months; Brent crude oil futures rose 0.5% to $61.17 a barrel in recent months.