Based on the U.S. Power Info Administration’s (EIA) newest brief time period vitality outlook (STEO) which was revealed on January 13, the West Texas Intermediate (WTI) spot value common will drop in 2026 and 2027.
The EIA projected on this STEO that the WTI spot value will are available in at $52.21 per barrel this yr and $50.36 per barrel subsequent yr. The commodity averaged $65.40 per barrel in 2025, the EIA’s January STEO confirmed.
A quarterly breakdown included within the outlook forecast that the WTI spot value will are available in at $54.93 per barrel within the first quarter of 2026, $52.67 per barrel within the second quarter, $52.03 per barrel within the third quarter, $49.34 per barrel within the fourth quarter, $49.00 per barrel within the first quarter of 2027, $50.66 per barrel within the second quarter, $50.68 per barrel within the third quarter, and $51.00 per barrel within the fourth quarter of subsequent yr.
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In its earlier STEO, which was launched in December, the EIA projected that the WTI spot value would common $65.32 per barrel in 2025 and $51.42 per barrel in 2026. That STEO didn’t supply a mean WTI spot value forecast for 2027.
The EIA’s November STEO noticed the WTI spot value averaging $65.15 per barrel in 2025 and $51.26 per barrel in 2026.
A chart hosted on the EIA’s web site, which was final up to date on January 14 and displayed the annual common Cushing, OK, WTI spot value, on a free on board foundation, from 1986 to 2025, confirmed that this commodity hit a peak in 2008, at $99.67 per barrel. The commodity noticed its lowest value, between 1986 and 2025, in 1986, at $15.05 per barrel, the chart highlighted. The very best value the commodity has seen this decade got here in 2022, at $94.90 per barrel, the chart confirmed.
In a BMI report despatched to Rigzone by the Fitch Group on Friday, analysts at BMI, a unit of Fitch Options, projected that the entrance month WTI crude value will common $64 per barrel in 2026 and $68 per barrel in 2027.
In a J.P. Morgan analysis be aware despatched to Rigzone by the corporate’s head of worldwide commodities technique, Natasha Kaneva, on Wednesday, J.P. Morgan forecast that the WTI crude oil value will common $54 per barrel in 2026 and $53 per barrel in 2027.
J.P. Morgan projected in that report that the commodity will are available in at $56 per barrel within the first quarter of 2026, $55 per barrel within the second quarter, $52 per barrel within the third quarter, $51 per barrel throughout the fourth quarter of 2026 and the primary quarter of 2027, $53 per barrel throughout the second and third quarters of subsequent yr, and $55 per barrel within the fourth quarter of 2027.
In a Stratas Advisors report despatched to Rigzone by the Stratas workforce on January 12, the corporate highlighted that the value of WTI ended the week at $58.78 per barrel after closing the earlier week at $57.33 per barrel.
Ole S. Hansen, the top of commodity technique at Saxo Financial institution A/S, highlighted in a commodities be aware despatched to Rigzone by the Saxo Financial institution workforce on January 9 that, “technically, resistance sits just under $59 in WTI and $63 in Brent, with a transparent break above these ranges probably triggering momentum- and brief‑overlaying‑led extensions”.
Within the fourth quarter Dallas Fed Power Survey, which was launched lately, executives from oil and fuel corporations revealed the place they anticipate the WTI crude oil value to be at numerous factors sooner or later.
The survey requested individuals what they anticipate WTI costs to be in six months, one yr, two years, and 5 years. Executives from 116 oil and fuel corporations answered this query and gave a imply response of $59 per barrel for the six month mark, $63 per barrel for the yr mark, $69 per barrel for the 2 yr mark, and $75 per barrel for the 5 yr mark, the survey confirmed.
This survey additionally requested individuals what they anticipate the WTI crude oil value to be on the finish of 2026. Executives from 128 oil and fuel corporations answered this query and gave a mean response of $62.41 per barrel, the survey highlighted. The low forecast was $50 per barrel, the excessive forecast was $82.30 per barrel, and the common each day spot value in the course of the survey was $59.00 per barrel, the survey identified.
To contact the creator, e mail andreas.exarheas@rigzone.com
