The EIA now sees the WTI spot price averaging $63.88 per barrel in 2025 and $57.48 per barrel in 2026, according to the STEO.

Goldman Sachs analysts revealed that they see the Brent oil price falling to under $40 per barrel under one scenario.

The U.S. Department of the Interior announced a 'significant increase in estimated oil and gas reserves in the Gulf of America Outer Continental Shelf'.