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U.S. Energy Information Administration Revises Down 2027 Brent Crude Forecast to Average $65 per Barrel

2026-07-07 21:05:45

According to the U.S. Energy Information Administration, on July 7, the agency lowered its 2027 Brent crude oil price forecast to an average of $65 per barrel, citing a faster-than-expected recovery from supply disruptions caused by the Iran conflict. The EIA's monthly report indicated that crude production losses peaked at 11.2 million barrels per day in May but are projected to narrow to 1.4 million barrels per day by the fourth quarter, signaling an accelerating normalization of global energy supplies.

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EIA Cuts July Brent Crude Forecast to $81.91/Bbl, Down from $95.39

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