PTT expects oil prices in 2026 to stay low as OPEC+ supply remains ample
PTT forecasts global oil prices to hover at US$60–70 per barrel in 2026, citing ample OPEC+ supply and weak global demand as key factors.
Kongkrapan Intarajang, chief executive officer and president of PTT Plc, said the company expects global oil prices to remain relatively low next year due to the continued abundance of supply from OPEC+.
He noted that US energy policy remains unclear, which could keep crude prices stable within the range of US$60–70 per barrel.
Another key factor to watch, he added, is the global economic outlook. With the world economy still struggling to gain momentum, oil demand is unlikely to expand significantly — even in the absence of geopolitical conflicts.
On refinery margins, Kongkrapan said overall profitability may not improve, although diesel refining margins could see seasonal spikes. These developments will need close monitoring.
As for petrochemicals, he said profits in some segments may not increase due to ongoing oversupply in the global market. However, prices are unlikely to deteriorate further and could remain broadly in line with current levels.
