Wells Fargo raises 2027 oil price targets on supply risks

Investing.com··US·Read original
3▲2 ▼0Impact / 5
Summary · why it matters

Wells Fargo Investment Institute raised its crude oil price targets for 2027 on Tuesday, citing ongoing supply disruptions and inventory rebuilding needs. The institute increased its year-end 2027 target for West Texas Intermediate crude to $75-$85 per barrel from $70-$80, and moved its Brent crude target to $80-$90 per barrel from $75-$85. Wells Fargo analysts said they expect supply disruptions to gradually ease through 2027, but ongoing closure risks will add a premium to each barrel, and they anticipate countries will rebuild depleted energy inventories from multi-year lows as supply conditions normalize. The analysts said they expect prices to subside from recent highs but to remain above their previous targets through 2027. The institute also noted that persistent geopolitical risk and business technology spending appear likely to intensify inflation pressure, and it expects the Federal Reserve to respond with additional interest rate increases, which should slow global economic growth.

Impact on assets 4

Financials▲ · 1 stocks
Wells Fargo & Company
WFC
± MixedCapitalrelevance

Wells Fargo Investment Institute raised its 2027 oil price targets, but this is a research call, not a direct financial event for the bank

Consumer Staples▲ · 1 stocks
Others▲ · 2 stocks
⛏Brent Crude Oil Futures
BRENT
▲ PositiveSupplyrelevance

Wells Fargo lifted its 2027 Brent target to $80-$90 citing supply closure risks and a per-barrel premium

⛏Crude Oil WTI Futures
WTI
▲ PositiveSupplyrelevance

Wells Fargo raised its 2027 WTI target to $75-$85 on ongoing supply disruptions and inventory rebuilding

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