EIA raises crude oil price expectations for 2026 and 2027

On March 11th, EIA released a short-term energy outlook report, expecting Brent crude oil prices to reach $78.84 per barrel in 2026, compared to the previous expectation of $57.69 per barrel; In 2027, it is expected to be $64.47 per barrel, compared to the previous expectation of $53 per barrel. The expected WTI crude oil price in 2026 is $73.61 per barrel, compared to the previous expectation of $53.42 per barrel; In 2027, it is expected to be $60.81 per barrel, compared to the previous forecast of $49.34 per barrel.