The U.S. Department of Energy has lowered its forecast for the average price of benchmark Brent crude oil for 2026 from $96 to $94.85, APA-Economics reports, citing the EIA’s monthly report.
The price of West Texas Intermediate (WTI) crude oil in 2026 is expected to stand at $85.68 (previous forecast – $87.41).
At the same time, the EIA has updated its forecast for the average prices of the mentioned oil benchmarks for 2027. Thus, according to the agency’s estimates, the average price of Brent crude next year will be $79.39 per barrel (previous forecast – $76.09), while WTI is projected at $74.39 (previous forecast – $72.43).
It is noted that in 2025, the prices of Brent and WTI crude oil stood at $69.04 and $65.4, respectively.
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