EIA Raised Brent Crude Oil Price Forecast for 2025

SEATTLE (Oil Monster): The US Energy Information Administration (EIA), in its Short-Term Energy Outlook (STEO) released late Tuesday, raised its Brent crude oil price forecast for 2025 to $67.80 per barrel from $67.22. However, it warned of steep decline in prices later during this year and into the forthcoming year.

The organisation predicts that Brent prices will drop to $49.97 in early 2026 and $59.41 in the fourth quarter of 2025. It should be mentioned that Brent had an average of $68 in August. Prices will decline as a result of the massive inventory builds, which are mostly caused by OPEC+ supply increases beginning in October.

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Lower prices in early 2026 are predicted to cut output from OPEC+ and certain non-OPEC countries, according to the EIA. Consequently, later in 2026, the market is probably going to see a decrease in inventory increase. The EIA predicts that Brent prices will average about $51 per barrel in 2026 based on this estimate.

Due to ongoing tensions and negotiations surrounding the Russia-Ukraine crisis, the government agency expects that supply may be affected. It is impossible to completely rule out the potential of more sanctions being imposed. It also pointed out that the continuing trade talks and legal disputes surrounding U.S. tariffs on other countries may have an impact on the expansion of oil consumption.