The EIA's Short-Term Energy Outlook currently projects WTI crude to average $80.88 per barrel in 2026 and $65.39 in 2027, with Brent at $86.81 rising to $69.39. The full table below includes natural gas and world supply-demand, and the outlook page adds the live forward curves and trend signals. No forecast is a promise — see the FAQ for how to use these numbers.
| Metric | 2025 | 2026 (est.) | 2027 (forecast) | Unit |
|---|---|---|---|---|
| WTI Crude Spot Average | 65.40 | 80.88 | 65.39 | $/bbl |
| Brent Crude Spot Average | 69.04 | 86.81 | 69.39 | $/bbl |
| Henry Hub Natural Gas Spot | 3.53 | 3.44 | 3.31 | $/MMBtu |
| US Crude Oil Production | 13.59 | 13.80 | 14.15 | Mb/d |
| World Petroleum Production | 106.12 | 100.83 | 109.74 | Mb/d |
| World Liquid Fuels Consumption | 103.98 | 102.73 | 104.96 | Mb/d |
Source: EIA STEO. See also the live forward curves and trend snapshot, the natural gas forecast, and today's WTI price.
The EIA's Short-Term Energy Outlook projects WTI crude to average $80.88 per barrel and Brent $86.81 in 2026. For reference, WTI's latest close is $84.89 (2026-08-18). These are official US government forecasts, revised every month.
For 2027, the EIA projects WTI to average $65.39 per barrel and Brent $69.39. Forecasts this far out are especially sensitive to OPEC+ policy, demand growth and geopolitics — the EIA publishes wide confidence intervals around these numbers.
Nobody knows with certainty — but the market's own view is readable in the futures curve: backwardation (front month priciest) signals tightness today, contango signals comfortable supply. Combine that with the EIA's official projections and the weekly inventory data to form a grounded view rather than relying on any single prediction.
Historically, not very — unforecastable events (wars, pandemics, OPEC+ surprises) dominate. Studies show even professional forecasts rarely beat the futures curve. That's why this page shows the official EIA projection and the live market curve rather than a proprietary guess.