Crude Oil Outlook 2026: Why A Rebound Could Be On The Cards, Kunal Shah Explains

Crude oil may have underperformed in 2025, but the outlook for 2026 is turning constructive. A strong consensus that oil prices will remain subdued is itself emerging as a bullish trigger. Major global economies have largely depleted their strategic petroleum reserves, setting the stage for fresh buying. On the supply side, prices below $55 could force US shale producers to scale back production, helping rebalance the market. Together, these factors could create a favourable setup for crude oil in the coming year. The view suggests that current levels around ₹5,000-5,100 offer a good accumulation opportunity for investors willing to hold through near-term volatility. While patience may be required over the next few months, the expectation is that returns could start building as 2026 progresses and fundamentals begin to assert themselves.