Bualuang Securities raises 2026 Brent oil target to 94 dollars, boosting PTT and PTTEP profits

Money & Banking··TH·Read original
3▲2 ▼0Impact / 5
Summary · why it matters

Bualuang Securities has raised its 2026 Brent crude oil price assumption to 94 US dollars per barrel from 85 dollars, and lifted its 2026 profit forecasts for PTT to 149 billion baht, up 9%, and for PTT Exploration and Production, or PTTEP, to 79 billion baht, up 8%. It noted that crude oil prices are still holding in a range of 90 to 100 dollars per barrel in the fourth quarter of 2026 amid supply risks in the Middle East, after the volume of oil shut in production in the Persian Gulf rose from about 8.3 million barrels per day in July to more than 10 million barrels per day in August, while shipments through the Strait of Hormuz fell to 7.6 million barrels per day. However, for 2027, Bualuang Securities has cut its oil price view to 70 dollars per barrel on expectations of oversupply, estimating that supply will rise by an average of 8.6 million barrels per day, above global oil demand growth of about 2.5 million barrels per day. Bualuang Securities is maintaining a market-weight stance on the energy sector, picking PTT as its top pick with a buy rating and a target price of 48 baht, while keeping a hold rating on PTTEP with a target price of 168 baht.

Impact on assets 2

Energy Transition & Power Demand▲ · 1 stocks
PTT Public Company Limited
PTT
▲ PositiveCapitalrelevance

Bualuang raised its 2026 profit forecast for PTT by 9% to 149 billion baht and named it top pick with a buy rating and 48 baht target.

Energy▲ · 1 stocks
© 2026 MarketIVNews