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EIA Cuts 2025 and 2026 Brent Oil Price Forecast

Summary by Rigzone

The U.S. Energy Information Administration cut its average Brent oil spot price forecast for 2025 and 2026 in its latest short term energy outlook.

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EIA forecasts crude price down, gas up - May 11, 2025

In its May Short-Term Energy Outlook, released May 6, the U.S. Energy Information Administration said it expects the Brent spot oil price to average $66 per barrel this year, down from $81 in 2024, dropping to $59 per barrel in 2026. Brent averaged $68 per barrel in April, the agency said, forecast...

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