EIA Sees Brent Crude Prices at $85/Q in Q3 2026 Before Easing to $69/B in 2027

The US Energy Information Administration (EIA) has forecast that Brent crude oil prices will remain elevated at around $85 per barrel in Q3 2026 before gradually easing to $69 per barrel in 2027 as Middle East oil production recovers.

The EIA expects most crude oil production in the region to return to near pre-conflict levels in early 2027, although disruptions of about 0.6 million barrels per day are expected to continue through the end of next year.

The agency has raised its estimate of Middle East crude oil production disruptions compared with its July forecast and expects US crude oil production to rise from 13.8 million barrels per day in 2026 to 14.2 million barrels per day in 2027.