
The US Energy Information Administration raised its forecast for the average price of Brent crude oil for 2026 to $98 per barrel amid supply disruptions and rising demand.
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The US Energy Information Administration has updated its medium-term forecasts for the oil market.
The average price of the benchmark North Sea Brent oil in 2026 will be about $98 per barrel. This was reported by Reuters with reference to the forecast of the US Energy Information Administration (EIA).
Analysts' previous forecast called for a full-year figure of around $90. Thus, the estimate was increased by 8 percent.
In the fourth quarter, experts believe, the average price of Brent will be around $105 per barrel. This is $14 higher than the previous estimate.
The American department notes that a number of factors will contribute to maintaining high prices for raw materials. The main analysts included large-scale supply disruptions due to the blockage of the Strait of Hormuz, increased demand from governments and companies with limited supply, as well as the depletion of global reserves amid the active release of strategic reserves.

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