MOSCOW, January 14. /TASS/. The US Department of Energy projects the Brent crude oil price to average $74 per barrel in 2025, down by 8% compared with 2024, and then to continue its decline to average $66 per barrel in 2026 amid an increase in the volume of commercial stocks, according to a report by the Energy Information Administration (EIA).
EIA expects growth in global oil production to outpace global demand for petroleum products, which would push oil prices downward through 2026. In particular, growth of oil supply is expected to exceed demand growth by 0.5 mln barrels per day in 2025, and by 0.4 mln barrels per day in 2026. Moreover, global commercial oil stocks will gain 0.3 mln barrels per day this year, and 0.7 mln barrels per day next year.
This all will result in a decrease in the Brent price by 8% in 2025 and by 11% in 2026, according to the report.
The price of WTI oil is projected at $70.31 per barrel in 2025, and at $62.46 per barrel in 2026.