EIA STEO: 2026 world oil demand 104.2mln bpd (prev. 104.6mln bpd), 2027 world oil demand 105.6mln bpd (prev. 106.2mln bpd)
The EIA's latest STEO shows a reduction in global oil demand projections for 2026 and 2027, with anticipated decreases from previous forecasts.
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EIA STEO: 2026 world oil demand 104.2mln bpd (prev. 104.6mln bpd), 2027 world oil demand 105.6mln bpd (prev. 106.2mln bpd)
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Newsquawk Daily US Earnings Estimates - 13th May 2026: CSCO, BABA
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U.S. Oil Production
- 2026: 13.65mln bpd (prev. 13.51mln bpd)
- 2027: 14.1mln bpd (prev. 13.95mln bpd)
- May: 13.73mln bpd (Apr. 13.75mln bpd)
- June: 13.75mln bpd
U.S. Oil Demand
- 2026: 20.7mln bpd (prev. 20.6mln bpd)
- 2027: 20.7mln bpd (prev. 20.7mln bpd)
U.S. Natural Gas Production
- 2026: 110.6 bcf/d (prev. 109.6 bcf/d)
- 2027: 115 bcf/d (prev. 112.6 bcf/d)
- May: 121.3 bcf/d (Apr. 121.1 bcf/d)
- June: 121.7 bcf/d
U.S. Natural Gas Demand
- 2026: 91.2 bcf/d (prev. 90.6 bcf/d)
- 2027: 94.4 bcf/d (prev. 92.7 bcf/d)
World Oil Production
- 2026: 101.6mln bpd (prev. 104.3mln bpd)
- 2027: 109.5mln bpd (prev. 109.5mln bpd)
World Oil Demand
- 2026: 104.2mln bpd (prev. 104.6mln bpd)
- 2027: 105.6mln bpd (prev. 106.2mln bpd)
WTI Crude Price Forecast
- 2026: USD 85.68/bbl (prev. USD 87.41/bbl)
- 2027: USD 74.39/bbl (prev. USD 72.43/bbl)
Brent Crude Price Forecast
- 2026: USD 94.85/bbl (prev. USD 96/bbl)
- 2027: USD 79.39/bbl (prev. USD 76.09/bbl)
This downward revision, coupled with an increase in U.S. production estimates, could indicate a more balanced supply-demand dynamic, potentially exerting downward pressure on oil prices. Traders should consider how these shifts influence short-term sentiment and broader energy market strategies.
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