Analysts Cut Oil Price Forecasts as Hormuz Reopens

According to a Reuters poll, analysts have revised their oil price forecasts downward, primarily citing the reopening of the Strait of Hormuz as easing supply concerns. The strait's reopening has brought relief to global oil markets while putting pressure on prices. Experts surveyed predict that with reduced geopolitical risks, oil prices may trade at lower levels in the coming period. Given the strategic importance of the Strait of Hormuz, this development has significantly alleviated concerns about global oil supply security. Analysts note that the possibility of a supply surplus is pulling price forecasts lower. In particular, OPEC+ countries' production policies and the global demand outlook continue to be decisive for price direction. However, the reopening of Hormuz has largely eliminated short-term supply-side uncertainties. This is not investment advice.