Oil prices forecast to stay range-bound in 2026

TA Research said Opec+ had reaffirmed its decision to pause planned production increases this February and March, reflecting seasonal demand softness and an already well-supplied market.

PETALING JAYA: TA Research is maintaining its “neutral” stance on the oil and gas sector, as rising global oil inventories and supply outpacing demand this year are likely to keep oil prices range-bound.

“While the Organisation of the Petroleum Exporting Countries and its allies (Opec+) maintain production discipline, China’s stockpiling and higher marginal storage costs should limit downside risks, the market remains structurally oversupplied.