Var Energi Sees Oil Stabilizing in 2026 on Lower Investment

Var Energi ASA, Norway’s third-biggest oil and gas company, sees oil’s supply and demand outlook stabilizing next year, with prices not dropping significantly below $60 a barrel.

“We may see a short period of oversupply, but I think when you look into next year, you see that supply-demand balance coming back into line,” Chief Executive Officer Nick Walker told reporters on Tuesday. “Oil is going to be required for a long time, and the industry has not been investing enough.”