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Oil Price Trends | U.S. Department of Energy lowers Brent crude price forecast, expects $95 per barrel in 2026
The U.S. Energy Information Administration (EIA) released the Short-Term Energy Outlook (STEO), predicting Brent crude oil prices of $95 per barrel in 2026, slightly lower than the previous estimate of $96; and $79 per barrel in 2027, higher than the previous estimate of $76.
EIA expects U.S. oil production to be 13.6 million barrels per day in 2026, up from the previous forecast of 13.5 million barrels; and 14.1 million barrels per day in 2027, up from the previously estimated 13.9 million barrels.
U.S. liquefied natural gas (LNG) exports are expected to be 17 billion cubic feet per day in 2026, consistent with previous expectations; and 18.2 billion cubic feet in 2027, lower than the previous estimate of 18.6 billion cubic feet.
EIA will release its next Short-Term Energy Outlook report on June 9.