Jefferies increased its terminal oil price forecasts, setting WTI at $70/bbl and Brent at $75/bbl.
The firm also raised its 2026 WTI estimate to $81.79/bbl and its 2027 forecast to $75/bbl, citing supply tightness.
Analysts note 10–12 million bpd of oil products offline and 400 million bbl of strategic reserves released, masking front‑month price pressures.
They recommend buying high‑quality oil operators such as Ovintiv, ConocoPhillips, EOG, and Halliburton on pull‑backs.