PremiumEIA revises down oil price outlook, predicts further declines in 2025, 2026

Brent crude oil prices are expected to decline through the rest of 2025 and into 2026 as global demand growth slows and oil inventories begin to build, according to the latest outlook from the U.S. Energy Information Administration (EIA). The EIA reports that Brent averaged $68 per barrel in April—down $5 from March—marking the third consecutive monthly decline.