The U.S. Department of Energy has raised its forecast for the average price of benchmark Brent crude oil for 2026 from $55.87 to $57.69 per barrel, APA-Economics reports, citing a report by the U.S. Energy Information Administration (EIA).
The price of WTI (West Texas Intermediate) crude oil in 2026 is expected to be $53.42 per barrel (previous forecast: $52.21).
At the same time, the EIA has updated its forecasts for the average prices of these oil benchmarks for 2027. According to the agency’s estimates, the average price of Brent crude next year will be $53 per barrel (previous forecast: $54.02), while WTI is expected to average $49.34 per barrel (previous forecast: $50.36).
It is noted that in 2025, the prices of Brent and WTI crude oil amounted to $69.04 and $65.4 per barrel, respectively.
