Energy Information Administration points to trade policy, production in latest outlook

Energy Information Administration points to trade policy, production in latest outlook

The Energy Information Administration is forecasting lower crude oil prices through 2026. In its May short-term energy outlook, EIA said it expects recent developments in global trade policy and oil production to contribute to lower global demand for petroleum products and contribute to lower oil prices than previously forecast. A Brent crude oil average price per barrel of $66 is expected for 2025, before falling to $59 per barrel in 2026. In 2…