Eric Nuttall Warns of Near-Term Oil Glut, Sees Bull Market Brewing in 2026

Global oil markets are facing a period of short-term pressure as production swells, but Canadian energy fund manager Eric Nuttall says the groundwork is already being laid for the next major bull market in crude. Speaking to BNN Bloomberg, Nuttall, a partner at Ninepoint Partners, said he remains bearish on oil for the remainder of 2025 as inventories rise and new supply comes online. But he expects a powerful reversal in 2026 as the market absorbs spare OPEC+ capacity and balances the influx of new production from South America. “We have…