Oil prices expected to drop in 2026

Greg Kozera of Shale Crescent USA joins LiveNOW from FOX's Mike Pache to discuss the latest in oil prices speculation. "We're prepared for prices in '26 to be lower than they were in '25," Chevron CEO Mike Wirth said in an interview with FOX Business’ Maria Bartiromo — the first of four exclusive segments airing on "Mornings with Maria" this week — offering an in-depth look at operations in Texas’ Permian Basin. "That's the current outlook. As we get on the other side of that and that supply's back in the market, the market will come back into balance and I think we'll see prices restored to a level a little bit higher, and '26 may be a low point," Wirth said. "Economics drive capital allocation decisions. Today, oil's at $57 a barrel. I don't think we're necessarily high-fiving with that oil price, but again, we're going to find ways to reduce costs, cut our emissions, and make our break-evens lower to live to fight another day," Diamondback Energy CEO Kaes Van't Hof also told Bartiromo.