The U.S. Department of Energy has raised its forecast for the average price of benchmark Brent crude oil in 2025 from 68.64 to 68.76 US dollars, APA-Economics reports, citing the report of the U.S. Energy Information Administration (EIA) under the Department of Energy.
It is estimated that in 2025, the price of WTI (West Texas Intermediate) crude oil will be at the level of 65.15 US dollars (previous forecast – 65 US dollars).
At the same time, the EIA has updated its forecast for the average prices of the mentioned oil grades for 2026. Thus, according to the agency’s estimates, next year the average price of one barrel of Brent will be 54.92 US dollars (previous forecast – 52.16 US dollars), and WTI will be 51.26 US dollars (previous forecast – 48.5 US dollars).
It is noted that in 2024, the prices of Brent and WTI crude oil amounted to 80.56 US dollars and 76.6 US dollars, respectively.
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