According to this STEO, the EIA sees the Brent spot price coming in at $57.69 per barrel in 2026 and $53.00 per barrel in 2027. The Brent spot price averaged $69.04 per barrel in 2025, the STEO showed.
A quarterly breakdown included in the EIA’s latest STEO showed that the organization expects the Brent spot price to come in at $64.44 per barrel in the first quarter of this year, $57.32 per barrel in the second quarter, $55.35 per barrel in the third quarter, $54.00 per barrel in the fourth quarter, and $53.00 per barrel across the first, second, third, and fourth quarters of next year.
In the STEO, the EIA highlighted that the Brent crude oil spot price averaged $67 per barrel in January, which it pointed out was $4 per barrel higher than the average in December. The EIA noted that daily Brent crude oil prices increased from an average of $62 per barrel on January 2 to $72 per barrel on January 30.
“We forecast that Brent spot prices will average $58 per barrel in 2026 and $53 per barrel in 2027, down from an average of $69 per barrel in 2025,” it continued.
