Drillers See $88 Oil, But Spot Prices Defy Expectations

The latest Dallas Fed Survey shows that oil drillers are expecting $88 per barrel by year-end, despite current spot prices averaging $98.70.

This is a significant gap, and one that could have far-reaching implications for the energy sector.

The survey, which collected data from 125 executives in the industry, found that while business activity remains positive, with a reading of 38.8 in Q3 2026, there are signs of deceleration.

Rig counts have accelerated, but at a slower rate than expected, and forecasts for year-end WTI prices range from $70 to $126 per barrel, highlighting the uncertainty that exists in the market.