US DOE Raises Oil Price Forecasts, Sees Mideast Output Recovery by Q2 2027

The US Department of Energy raised its oil price forecasts in its October monthly report, citing expectations that Middle East production will return to pre-war averages by end of Q2 2027. The revision implies a prolonged supply disruption, likely reflecting ongoing conflict-related risks. This matters as it signals sustained upward pressure on oil prices and inflation.

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