In comparison, the average price in 2025 was $69.0.
At the beginning of 2026, the price of Brent oil reached $67, which is the highest level since September 2025. The reasons for this price increase were adverse weather conditions that hindered international crude oil supplies, as well as escalating tensions in relations with Iran.
“Despite these short-term factors, we expect that in 2026 oil prices will decline as global production exceeds demand, leading to an increase in inventories. We anticipate that global oil inventories will continue to grow in 2027. The projected average price of Brent crude oil in 2026 will be $58, and in 2027 it will be $53,” the administration clarified.
