US EIA STEO: 2026 world oil demand at 104.6mln BPD (prev. 105.2mln BPD); 2027 seen at 106.2mln BPD (prev. 106.6mln BPD)
The latest EIA STEO report shows a downward revision in both global oil demand and production forecasts for 2026 and 2027.
The Israeli military is on standby and ready to launch strikes on Iran ahead of US President Trump’s deadline for Iran to reopen the Strait of Hormuz, an Israeli security source tells CNN.
Israeli military warns vessels in maritime area between Lebanon's Tyre and Ras Naqoura, and says all vessels must immediately sail north of Tyre
US EIA STEO: 2026 world oil demand at 104.6mln BPD (prev. 105.2mln BPD); 2027 seen at 106.2mln BPD (prev. 106.6mln BPD)
Iraqi Cabinet authorises Iraqi oil tankers company to lease available tankers in Gulf for storage or other uses to extend refinery operations when sales are not possible
Newsquawk Daily US Earnings Estimates - 8th April 2026: DAL, STZ
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World Oil Production
- 2026: 104.3mln bpd (prev. 107mln bpd)
- 2027: 109.5mln bpd (prev. 109.6mln bpd)
World Oil Demand
- 2026: 104.6mln bpd (prev. 105.2mln bpd)
- 2027: 106.2mln bpd (prev. 106.6mln bpd)
US Oil Production
- 2026: 13.51mln bpd (prev. 13.61mln bpd)
- 2027: 13.95mln bpd (prev. 13.83mln bpd)
U.S. Oil Demand
- 2026: 20.6mln bpd (prev. 20.6mln bpd)
- 2027: 20.7mln bpd (prev. 20.7mln bpd)
U.S. Natural Gas Production
- 2026: 109.6 bcf/d (prev. 109.5 bcf/d)
- 2027: 112.6 bcf/d (prev. 112.3 bcf/d)
U.S. Natural Gas Demand
- 2026: 90.6 bcf/d (prev. 91.4 bcf/d)
- 2027: 92.7 bcf/d (prev. 92.1 bcf/d)
WTI Crude Price Forecast
- 2026: USD 87.41/bbl (prev. USD 73.61/bbl)
- 2027: USD 72.43/bbl (prev. USD 60.81/bbl)
Brent Crude Price Forecast
- 2026: USD 96/bbl (prev. USD 78.84/bbl)
- 2027: USD 76.09/bbl (prev. USD 64.47/bbl)
This suggests a potential tightening in the market outlook, which could affect pricing dynamics, particularly with the notable increase in the projected WTI and Brent prices for 2026. Traders should monitor how this revision may influence oil-related assets and inflation expectations.
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