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2026-11-10T19:50:56.000Z

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Fourth Year of Oil Highs

Fourth Year of Oil Highs

The U.S. Energy Information Administration expects U.S. crude oil production to reach a record for the fourth consecutive year, averaging 13.9 million barrels per day in 2026, up from 13.7 million in 2025, before rising to 14.3 million in 2027. It forecast an average Brent crude price of $97 per barrel in 2026, falling to $86 in 2027, as inventories are expected to grow and most Middle Eastern production—excluding Iran—is forecast to return to pre-war levels.

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