Global crude oil prices are expected to remain under pressure in 2026 as the global oil market is likely to face a sustained supply surplus, according to a report by ING Bank, a global banking and financial services major.
Global crude oil prices are likely to see downside, weighed down by the de-escalation of the Israel-Iran conflict, soft demand and increasing supply, revealed a latest research report by ICICI Bank.
Analysts and trade sources suggest that new capacity additions, particularly from Nigeria's upcoming Dangote refinery, may contribute to surplus fuel oil availability in the region, according to S&P Global Commodity Commodity Insights (GCI).