U.S. agency raises WTI and Brent price projections for 2026 and 2027 amid regional disruptions and shipping threats.
The Energy Information Administration increased its 2026 WTI crude price forecast to $80.88 per barrel from $76.26, and Brent to $86.81 from $81.91. For 2027, WTI is now projected at $65.39, up from $60.76, while Brent rises to $69.39 from $64.76.
The revisions follow July’s estimated 5.5 million barrels per day of Middle East output shut-ins and ongoing risks to key shipping routes. Global oil output for 2026 is now seen at 100.8 million bpd, down from 101.9 million bpd previously, while 2027 demand is forecast at 105.0 million bpd, slightly higher than earlier estimates.
The agency noted no output shut-ins from recent threats to Saudi oil shipments through the Bab el-Mandeb, but maintained a bullish outlook for crude, particularly in 2026.