The U.S. Energy Information Administration, or EIA, raised its price forecasts for both West Texas Intermediate and Brent crude in its latest Short-Term Energy Outlook, according to a BlockBeats report dated Aug. 12. The agency now expects WTI crude to average $80.88 per barrel in 2026, up from its previous forecast of $76.26, and $65.39 per barrel in 2027, compared with an earlier estimate of $60.76. For Brent, the EIA lifted its 2026 forecast to $86.81 per barrel from $81.91, while its 2027 projection was raised to $69.39 from $64.76. The update covers both benchmark oil contracts and reflects higher expected pricing in each of the two years cited in the report.
The U.S. Energy Information Administration raised its forecasts for West Texas Intermediate and Brent crude prices in 2026 and 2027, according to its Short-Term Energy Outlook cited by BlockBeats on Aug. 12.
The EIA now sees WTI crude at $80.88 per barrel in 2026, compared with its previous forecast of $76.26. Its 2027 WTI forecast was lifted to $65.39 per barrel from $60.76.
For Brent crude, the agency raised its 2026 forecast to $86.81 per barrel from $81.91. Its 2027 Brent forecast was also revised higher, to $69.39 per barrel from $64.76.
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