S&P Reaffirms Stable Oil Prices Until End of 2029

Standard & Poor's (S&P) Global Ratings has reaffirmed its forecast for oil and natural gas prices until the end of 2029, stating that they will remain stable from 2026 to 2029.

The S&P experts believe that the price of one barrel of Brent crude oil will average $110 in 2026, $80 in 2027, and $65 in both 2028 and 2029. Meanwhile, the average price of one barrel of WTI crude oil is expected to be $105 this year, $75 in 2027, and $60 in both 2028 and 2029.

The forecast also notes that the average price of 1,000 cubic feet of natural gas at the Henry Hub will remain stable from 2026 to 2029 at $3.50 per unit. However, the prices at other hubs such as AECO and TTF are expected to decrease over the same period.