Analysts from the U.S. Energy Information Administration (EIA) in their May report predict that during 2025 and 2026 global oil prices will show a downward trend.

According to their estimates, the average cost of a barrel of Brent crude oil will be approximately $ 66 in 2025, and it will fall to $ 59 in 2026. This is significantly lower than the average value of $81 per barrel recorded in 2024.

Several factors are influencing the decline in prices, including changes in international trade and an increase in oil production. These factors contribute to reducing global demand for petroleum products. 

It is important to note that the EIA emphasizes that their forecasts were made before the last meeting of OPEC+ member countries, which introduces an element of uncertainty into the estimates presented.

At the same time, the EIA predicts an increase in natural gas prices. 

In the third quarter of 2025, the average price is expected to be $4.20 per million British thermal units, which is almost double the average of the previous year. In addition, electricity production in the United States is projected to increase, mainly due to solar energy, which is projected to grow by more than 30% in 2025.