Story thread · 3 reports / 3 sources

EIA raises crude oil price forecasts as Middle East supply risks tighten outlook

investinglive.com · 3hShare

The latest EIA outlook includes a notable upward revision to crude oil price forecasts for both 2026 and 2027, while also adjusting its expectations for global supply and demand. The agency also highlighted significant Middle East production disruptions in July and continued risks surrounding key shipping routes. Key takeaways from the latest outlook: U.S. WTI crude spot prices are expected to average $80.88/bbl in 2026, up from the previous forecast of $76.26. Brent crude spot prices are expected to average $86.81/bbl in 2026, up from $81.91. U.S. WTI crude spot prices are expected to average $65.39/bbl in 2027, up from $60.76. Brent crude spot prices are expected to average $69.39/bbl in 2027, up from $64.76. 2026 global oil output is seen at 100.8 mln bpd, down from the previous forecast of 101.9 mln bpd. 2027 global oil output is seen at 109.7 mln bpd, versus 109.8 mln bpd previously. 2026 world oil demand is seen at 102.7 mln bpd, versus 102.8 mln bpd previously. 2027 world oil de

First report: Iran raises crude processing capacity at joint oil field with Iraq to 320,000 bpd — trend.az, 1d