US EIA hikes oil price forecasts as Iran war drains global stockpile
The agency now sees Brent crude averaging about $91 a barrel this year as 400 million barrels of global inventories disappear.
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7 Articles
Supply restrictions in the Middle East and a 400 million barrel drop in global oil inventories have spurred markets into action. The US Energy Information Administration (EIA) revised its Brent oil price forecasts upward for this year and next year due to escalating supply concerns.
US EIA hikes oil price forecasts as Iran war drains global stockpile
The U.S. Energy Information Administration raised its oil price forecasts for this year and next year on Wednesday, as global stockpiles fall rapidly under pressure from the loss of Middle Eastern supply in the ongoing Iran war.
Consumers are facing very high fuel prices, with the forecasts for the coming days looking grim. The price of Brent oil has exceeded $100 per barrel, driving the average price of unleaded gasoline to 2.10 euros per liter and with the prospect of reaching 2.15 euros.
EIA raises 2026 Brent average forecast to $91 as Middle East disruptions pressure inventories
The U.S. Energy Information Administration has raised its oil-price forecasts for 2026 and 2027 as prolonged disruption to Middle Eastern production and exports drains global inventories and keeps crude markets significantly tighter than previously expected. The EIA now expects benchmark Brent crude to average $91.01 per barrel in 2026, up from $86.81 in its August […]
Supply disruptions in the Middle East and declining oil inventories have led the US Energy Information Administration (EIA) to raise its price expectations. The EIA increased its forecasts for both Brent and WTI for this year and 2027, while maintaining its expectation of a decline next year. Global inventories are expected to fall by the end of the year, keeping prices high.
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