EIA Significantly Raises U.S. and Brent Crude Oil Price Forecasts for This Year

BlockBeats News, March 11th, the EIA released its Short-Term Energy Outlook report, stating that the Brent crude oil price is expected to be $78.84 per barrel in 2026, up from the previous forecast of $57.69 per barrel. It is anticipated to be $64.47 per barrel in 2027, up from the previous estimate of $53 per barrel. The projected WTI crude oil price for 2026 is $73.61 per barrel, up from the previous expectation of $53.42 per barrel. The forecast for the 2027 WTI crude oil price is $60.81 per barrel, up from the previous estimate of $49.34 per barrel.

Impacted by the Middle East conflict, it is expected that the Brent crude oil price will remain above $95 per barrel in the next two months; by the third quarter of 2026, it will fall to below $80 per barrel and by the end of the year, it will drop to around $70 per barrel. (FX168)