JP Morgan Warns of Challenging 2026 for Oil Sector Amid Geopolitical Risks
ByAinvest
Wednesday, Jan 14, 2026 8:40 pm ET1min read
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JPMorgan analysts are cautious ahead of the 4Q reporting season in the oil sector, citing challenging 2026 backdrop, oversupply risks, and high valuation. The bank expects a mixed set of updates for 4Q, with geopolitical risks dominating near-term trading. JPMorgan has set out tactical pair trades to isolate relative performance, rating Shell and Repsol overweight, Equinor and ENI underweight, and TotalEnergies neutral.

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