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EIA Raises Brent and WTI Oil Price Forecasts Through 2027

The U.S. Energy Information Administration projects significantly higher average prices for Brent and WTI crude in 2026 and 2027, reflecting rising demand expectations and supply limitations.

Summary

The U.S. Energy Information Administration (EIA) revised its short-term energy outlook, raising the 2026 Brent crude forecast to $78.84 per barrel from $57.69 and the 2027 forecast to $64.47 from $53. WTI crude projections were updated to $73.61 for 2026 and $60.81 for 2027, up from prior estimates of $53.42 and $49.34, indicating stronger global demand and supply constraints supporting higher prices.

Terms & Concepts
  • Brent crude: A major global oil benchmark originating from the North Sea, used to price international oil trades.
  • WTI (West Texas Intermediate): A U.S. crude oil benchmark commonly used in North American energy markets.
  • EIA (U.S. Energy Information Administration): A U.S. government agency that provides official data and forecasts on energy production, consumption, and pricing.