EIA Raises 2026 WTI Price Forecast to $88.32, Brent to $95.39
The U.S. Energy Information Administration lifted its 2026 average price forecast for WTI crude to $88.32 per barrel and for Brent to $95.39 per barrel, while keeping 2027 estimates unchanged. U.S. oil output is expected to rise in June and July.
The U.S. Energy Information Administration (EIA) updated its near-term crude oil price outlook. For 2026, the agency now sees WTI averaging $88.32 per barrel, up from the previous estimate of $85.68. The Brent average for 2026 is forecast at $95.39 per barrel, compared to $94.85 earlier.
Looking further ahead, the EIA maintained its 2027 price forecasts unchanged. WTI remains at $74.39 per barrel, while Brent holds at $79.39 per barrel.
On the supply side, U.S. crude oil production is projected to average 13.83 million barrels per day (bpd) in June, a gain from 13.71 million bpd in May. July output is seen at 13.82 million bpd, slightly below the June estimate.
Source: First Squawk