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EIA Lowers 2026 Brent Crude Forecast to $95/Barrel, Raises U.S. Oil Output Estimate to 13.6M Bpd on May 12

GateNews
Commodities

According to the U.S. Energy Information Administration (EIA) short-term energy outlook released on May 12, Brent crude oil is forecast at $95 per barrel for 2026, down from the prior estimate of $96. The agency raised its 2026 U.S. crude oil production forecast to 13.6 million barrels per day (Mbpd), up from 13.5 Mbpd.

The EIA also lowered its 2027 liquefied natural gas (LNG) export forecast to 18.2 billion cubic feet per day, down from 18.6 billion cubic feet per day.

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