<a id="bm-comp-62239004-2949-4afe-a022-25873b49960a" name="bm-comp-62239004-2949-4afe-a022-25873b49960a" class="BMCustomAnchor"></a><table><tr><td bm-component-id="62239004-2949-4afe-a022-25873b49960a" style="vertical-align: top; width:100.000000%;"><ul><li><font color="#000000">We raise our '26e oil price forecast to USD 93/bbl (prev. 84). Our '27e price forecast is raised to USD 79/bbl (75), and we reiterate our long-term oil price forecast of USD 75/bbl for '28e-'30e.</font></li><li><font color="#000000">We raise our '26e gas price forecast to USD 18.8/MMBtu (prev. 14.4). We raise our '27e gas price forecast to USD 14.9/MMBtu and reiterate our long-term gas price forecast of USD 9.0/MMBtu for '28e-'30e.</font></li><li><font color="#000000">We lower our USD/NOK assumption to 9.5 (10.0) from Q4'26e onwards.</font></li><li><font color="#000000">Please see the table below for a summary of the estimate changes and refer to our Crude Quarterly report for further details.</font></li></ul><br /><p><font color="#000000"><font color="#000000">In our 22 September Crude Quarterly report, we update our oil and gas price assumptions for our covered E&Ps. See the report for more details on our new oil market estimates and our updated price assumptions. Also, see below in this report for quarterly and annual company estimates.</font></font></p></td></tr></table><a id="bm-comp-999a7652-20e1-4e34-ba6d-2413e9fbdadc" name="bm-comp-999a7652-20e1-4e34-ba6d-2413e9fbdadc" class="BMCustomAnchor"></a><table><tr><td bm-component-id="999a7652-20e1-4e34-ba6d-2413e9fbdadc" style="vertical-align: top; width:100.000000%;"></td></tr></table>
Petrolia Noco - Estimate changes from Crude Quarterly
22 september 2026