JPMORGAN WARNS OF OIL GLUT BY 2027 JPMorgan says a global oil surplus could push Brent into the $30s by late 2027 if supply isn’t cut. Demand is rising, but supply is growing three times faster, mainly from non-OPEC+ producers. A 2.8 million bpd surplus in 2026 could drag prices down, though voluntary cuts could stabilize Brent around 57–58. Prices have already fallen 16% for Brent and 19% for U.S. crude this year.(*Walter Bloomberg)