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Dallas Fed energy survey: 125 execs forecast WTI at $88 vs $98.70 spot. Hormuz recovery slips to Q2 2027, widening the E&P–services gap.
U.S. oil and gas activity expanded in the third quarter as E&Ps reported higher production and a more positive outlook, while Dallas Fed respondents forecast WTI at $88/bbl by year-end.
That figure is double the reading from 3 months ago even though slightly fewer executives added to spending in the third quarter.