UBS CUTS BRENT OIL FORECASTS AFTER OPEC+ MOVE 🔸 UBS lowered its 2025-2026 Brent oil forecasts by 3 to 72 and 2027 by 2 to 73, citing OPEC+'s decision to boost production earlier than expected. The long-term forecast remains 75 from 2028, anticipating slower non-OPEC+ supply growth. 🔸 Analysts expect oil to trade in the lower half of the 65-85 range, with market volatility persisting. Risks include weaker demand from tariffs and potential supply disruptions from U.S. policy on Venezuela, Iran, and Russia. 🔸 UBS sees OPEC+'s move as adaptive rather than strategic, doubting full compliance with output limits. However, OPEC+'s spare capacity caps upward price risks, enabling quick production increases if needed.