EIA Projects Brent at $99/bbl Through December 2026
The EIA's Short-Term Energy Outlook projects Brent crude at $99.00/bbl and WTI at $92.00/bbl. The 13-month forecast shows prices declining toward $99/bbl. The Brent-WTI spread is forecast at $7.00/bbl. This month's forecast was revised upward by an average of $1.71/bbl from the prior month.
Brent Forecast, Dec 2026
WTI Forecast, Dec 2026
Brent-WTI Spread
Forecast Horizon
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Price Forecast Trajectory
Dashed line indicates forecast values starting from Dec 2026
Brent Crude Outlook
WTI Crude Outlook
Brent Forecast Revisions
Month-over-Month Forecast Changes
Period | Current Forecast | Prior Forecast | Revision | Change % |
|---|---|---|---|---|
| 2026-11-01 | $104.00 | $104.00 | $0.00 | 0.0% |
| 2026-12-01 | $99.00 | $99.00 | $0.00 | 0.0% |
| 2027-01-01 | $97.00 | $97.00 | $0.00 | 0.0% |
| 2027-02-01 | $95.00 | $95.00 | $0.00 | 0.0% |
| 2027-03-01 | $93.00 | $93.00 | $0.00 | 0.0% |
| 2027-04-01 | $91.00 | $90.00 | +$1.00 | +1.1% |
| 2027-05-01 | $89.00 | $87.00 | +$2.00 | +2.3% |
| 2027-06-01 | $87.00 | $84.00 | +$3.00 | +3.6% |
| 2027-07-01 | $85.00 | $82.00 | +$3.00 | +3.7% |
| 2027-08-01 | $83.00 | $80.00 | +$3.00 | +3.8% |
| 2027-09-01 | $81.00 | $78.00 | +$3.00 | +3.9% |
| 2027-10-01 | $79.00 | $76.00 | +$3.00 | +4.0% |
| 2027-11-01 | $77.00 | $74.00 | +$3.00 | +4.0% |
| 2027-12-01 | $75.00 | $72.00 | +$3.00 | +4.2% |
About the EIA STEO
The Short-Term Energy Outlook (STEO) is a monthly publication from the U.S. Energy Information Administration providing forecasts for energy production, consumption, trade, and prices. The STEO covers crude oil, petroleum products, natural gas, electricity, coal, and renewables with projections extending 12-24 months ahead.
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Oil Price Forecast FAQ
The EIA STEO is a monthly report from the U.S. Energy Information Administration providing forecasts for energy production, consumption, and prices for the next 12-24 months. It covers crude oil, natural gas, petroleum products, and electricity.
EIA forecasts provide valuable guidance but have limitations. Historical analysis shows forecasts are most accurate for near-term periods (1-3 months) and less reliable further out. The EIA regularly revises projections as new data becomes available.
The EIA releases the Short-Term Energy Outlook on the first Tuesday of each month, typically around 12:00 PM ET. The report immediately influences trader expectations and can move oil prices upon release.