US EditionForecasts Predict Lacklustre Oil, Higher Alberta Gas Prices in 2026
Deloitte predicts global oil oversupply of about 3 million barrels daily will lower prices while Canadian natural gas prices rise due to tightening LNG exports.
- On Jan. 6, 2026, Deloitte forecasted West Texas Intermediate to average about $58 per barrel and Western Canadian Select in the low CAD$60s over the next 12 months.
- About three million barrels a day of oversupply is pressuring markets as global oil production rises next year despite investment in oil and gas falling in 2025.
- AECO prices could average roughly $3 per thousand cubic feet in 2026, with Deloitte expecting Alberta natural gas to rise to about $65.58 per mmBTU next year.
- Andrew Botterill said the outlook will change long-term investments for heavy-oil producers like Canada, and Canadian energy stocks were rattled Monday amid Venezuela turmoil that may bolster some prices short term.
- Lifting U.S. sanctions on Venezuelan crude could affect prices and rival heavy barrels like Canada's, while OPEC+ nations signalled caution and deferred production increases; Deloitte noted the forecast did not include the U.S. raid capturing Nicolás Maduro.
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Two energy forecasts published on Tuesday predict that crude oil prices will remain sluggish this year due to an excess global supply, while natural gas prices are expected to rise as Canadian shipments to Asia increase.
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Forecasts predict lacklustre oil, higher Alberta gas prices in 2026
CALGARY — A pair of energy forecasts released Tuesday see lacklustre crude oil prices continuing this year amid a global supply glut and natural gas prices picking up steam as more Canadian shipments make their way to Asia.
Oil prices expected to ease in 2026 amid ample supply
Oil prices are forecast to decline in 2026 due to surplus supply and weak demand, with Brent crude averaging $61.27 per barrel, according to a Reuters poll. The post Oil prices expected to ease in 2026 amid ample supply first appeared on The Journal Record.
Oil Prices Slide As Oversupply And Weak Demand Weigh On Market
Global oil prices declined on Tuesday as expectations of ample supply and subdued demand continued to weigh on sentiment. Brent crude oil, against which Nigerian crude oil is priced, fell to around $61 per barrel in early trading, while U.S. West Texas Intermediate hovered close to $58 per barrel. The price movement reflected growing confidence […] The post Oil Prices Slide as Oversupply and Weak Demand Weigh on Market appeared first on Investor…
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