Future of Oil Markets in the Middle East

Igor Sechin, CEO of Rosneft, predicts a potential stabilization in global oil markets by the second half of 2027 if the Middle East crisis is resolved. With the reopening of the Strait of Hormuz, oil prices may hit $95 per barrel by late 2026, before settling between $80-85.

The ongoing crisis in the Middle East holds significant sway over the global oil markets, according to Igor Sechin, CEO of Rosneft, Russia's largest oil producer.

Sechin predicts that if this geopolitical tension is resolved, oil markets could realign with fundamentals by the second half of 2027.

Moreover, the immediate reopening of the Strait of Hormuz could cause oil prices to surge to around $95 per barrel by the end of 2026, before declining to a steadier range of $80-85 by the following year.