EIR Reaffirms $100 Oil Forecast Through 2027 Amid Global Tightness

Enverus Intelligence Research (EIR) is maintaining its forecast of Brent oil prices at $100 per barrel for the second half of 2026 and 2027. In a statement, EIR said that global oil markets remain structurally tight despite recent price volatility.

OPEC commercial inventories are projected to fall towards a 20-year low in the fourth quarter of 2026, with balances forecasted to draw sharply through 2026 before shifting to modest builds beginning in the first quarter of 2027.

EIR also noted that recovering Chinese crude demand and continued disruption risk at two critical maritime chokepoints are contributing factors. China's crude imports fell by about 41% year-over-year in June, but EIR expects the import call to return as refiners increase purchases and reserve rebuilding resumes.