UBS slightly reduces oil price forecast due to increased production in South America.

UBS slightly lowered its forecast for Brent crude oil prices. The current outlook shows that Brent oil prices are expected to fall in the two quarters of the northern hemisphere winter, from $68 per barrel at the end of September to $62 per barrel by the end of the year and in March 2026. Prices are projected to rise to $65 per barrel by mid-next year and remain around that level in the second half of 2026. Previous forecasts had predicted oil prices to remain at $68 per barrel throughout the forecast period.