# 19: Oil Market Outlook 2026: OPEC+, Geopolitics, and Price Risk

Page: https://stenobird.com/podcast/the-energy-forum-7083503/19-oil-market-outlook-2026-opec-geopolitics-and-price-risk
Text version: https://stenobird.com/podcast/the-energy-forum-7083503/19-oil-market-outlook-2026-opec-geopolitics-and-price-risk.md
Podcast: [The Energy Forum](https://stenobird.com/podcast/the-energy-forum-7083503)
Published: 2025-12-17T18:26:05+00:00
Episode link: https://energyforum.podbean.com/e/oil-markets-in-flux-lessons-from-2025-and-what-s-next-for-2026/
Audio file: https://mcdn.podbean.com/mf/web/88jr2sav3zyt4bc8/Abhi_Skip_The_Energy_Forum_Recording_-_Maram_Hijazibo5f5-9ut4kf-Optimized.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-energy-forum-7083503/episodes/19-oil-market-outlook-2026-opec-geopolitics-and-price-risk
Duration seconds: 1965

## Resource

Oil markets are heading into 2026 with more uncertainty than prices suggest. In this episode of “The Energy Forum,” Abhi Rajendran and Skip York discuss why oil prices have remained resilient despite apparent oversupply. They examine OPEC+ supply discipline, non-OPEC production growth, China’s oil stockpiling, and what these forces mean for market balance. The conversation also explores geopolitics, sanctions, and tightening refining capacity, raising the risk that today’s soft crude prices could give way to higher fuel prices and a sharper rebound later this decade. This conversation was recorded on Dec. 12, 2025. Featured guests: Abhi Rajendran, https://www.bakerinstitute.org/expert/abhi-rajendran Skip York, Ph.D., https://www.bakerinstitute.org/expert/harold-skip-york You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

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## Transcript

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