EIA

Rabobank raises Brent forecast to $90 as Hormuz disruptions persist

The U.S. Energy Information Administration has raised its Brent crude forecast to $85 per barrel for the third quarter of 2026, an $11 increase from its previous estimate, as ongoing disruptions in the Strait of Hormuz continue to drain global…

EIA projects 2026 oil crunch, 2027 glut amid Hormuz crisis

The U.S. Energy Information Administration's August Short-Term Energy Outlook projects global oil consumption will outpace production by 1.91 million barrels per day in 2026, before a dramatic reversal to a surplus of 4.78 million barrels per day in 2027. The…

EIA raises Q3 Brent forecast by $11 on Hormuz disruptions

The U.S. Energy Information Administration sharply raised its third-quarter 2026 Brent crude forecast by $11 to $85 per barrel in its August Short-Term Energy Outlook, released August 11, citing continued severe constraints on shipping through the Strait of Hormuz that…

EIA expects Iran war oil disruptions through 2027

The U.S. Energy Information Administration said Tuesday that oil supply disruptions stemming from the US-Iran conflict are expected to reach approximately 600,000 barrels per day through the end of 2027, as fighting continues to restrict shipments through the Strait of…

US diesel exports hit record 1.9M barrels a day

The United States shipped a record 1.9 million barrels per day of distillate fuel overseas last week, surpassing the previous high set in May, as the global diesel shortage deepened amid continued Middle East conflict and constrained Russian supply.

OPEC cuts 2026 oil demand forecast for third straight month

OPEC on Sunday lowered its 2026 global oil demand growth forecast to 780,000 barrels per day, marking the third consecutive monthly downward revision, as the producer group's latest Monthly Oil Market Report pointed to lingering effects from geopolitical disruptions in…

EIA’s oil price cut overtaken by new U.S.-Iran strikes

The U.S. Energy Information Administration on Monday sharply cut its crude oil price forecast following last month's U.S.-Iran agreement to reopen the Strait of Hormuz, projecting Brent crude to average $74 per barrel in the third quarter of 2026 —…

EIA slashes oil price forecasts as Middle East supply recovers

Discounts on Russia's flagship Urals crude have widened to more than $10 per barrel against dated Brent for deliveries to Indian ports, as the return of Middle Eastern oil supply and weakening demand from Asian refiners leave Russian sellers scrambling…

EIA says global oil output to recover to pre-war levels by year-end

The U.S. Energy Information Administration said Tuesday that global crude oil production and trade flows are expected to return to near pre-conflict levels by the end of 2026, with most shut-in production from the Iran war restored during the first…