Austrian energy giant OMV anticipates Brent crude prices around $65 per barrel in 2026. The company also projects a weaker outlook for chemical margins, with ethylene prices falling. This comes after OMV reported a clean CCS operating result of €4.61 billion for 2025, a 10% decrease. Investors are watching these developments closely.

OMV's forecast reflects current market dynamics, including fluctuating energy prices and refining margins. The company is proposing a total dividend of €4.40 per share, which may be of interest to current shareholders. Capital expenditure for 2026 is projected around €3.20 billion, with a focus on refining.

The chemicals segment's clean operating result surged by 71% due to the Borealis Group reclassification. However, OMV anticipates challenges in this area, along with more normalized refining margins and lower European gas prices. RBC Capital Markets maintained an “underperform” rating, citing macro challenges.

Looking ahead, OMV's ability to navigate the volatile energy market will be critical. Market participants will be watching the company's refining indicator margin and utilization rates. Investors should also monitor the progression of the Borouge Group International deal closure, expected this quarter.