EIA Revises Oil Forecast, Citing Instability

EIA revises oil forecast, citing instability

The Energy Information Administration adjusted its expectations for future Brent crude oil prices in its July short-term energy outlook. While the forecast for crude oil increased to $69 per barrel in 2025, EIA still expects global oil supply to push that price down to $58 per barrel in 2026. “The oil market is experiencing uncertainty from regional conflict, demand growth and several other factors,” EIA acting Administrator Steve Nalley said in…

EIA predicts oil prices to decrease despite market uncertainty

The US Energy Information Administration (EIA) expects that Brent crude oil price will average less than US$70/bbl in 2025 and approximately US$58/bbl in 2026.