The U.S. Department of Energy has revised its forecast for the average price of benchmark Brent crude oil in 2025 from $68.89 to $67.22, APA-Economics reports, citing the report of the U.S. Department of Energy’s Energy Information Administration (EIA).
The price of WTI (West Texas Intermediate) crude oil in 2025 is expected to be at the level of $63.58 (previous forecast – $65.22).
In addition, the EIA has updated its forecast for the average prices of the mentioned oil benchmarks for 2026. According to the agency’s estimate, next year the average price of one barrel of Brent will be $51.43 (previous forecast – $58.48), and that of WTI will be $47.77 (previous forecast – $54.82).
It is noted that in 2024, the prices of Brent and WTI crude oil amounted to $80.56 and $76.6, respectively.
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