US STEO Report

2026 Brent forecast raised to $97.44/bbl from $96.32; 2027 raised to $85.78 from $83.74. 2026 WTI forecast raised to $88.29/bbl from $88.21; 2027 raised to $80.54 from $79.74. 2026 world oil demand unchanged at 102.4 mln bpd; 2027 cut to 104.4 mln bpd from 104.6 mln. 2026 world oil output raised to 101.7 mln bpd from 101.1 mln; 2027 cut to 108.4 mln bpd from 109.6 mln. 2026 US natural gas demand cut to 92.3 Bcf/d from 92.4; 2027 raised to 94.4 Bcf/d from 93.8. 2026 US oil demand unchanged at 20.6 mln bpd; 2027 raised to 20.9 mln bpd from 20.8 mln. 2026 US natural gas output raised to 113 Bcf/d from 112.2; 2027 raised to 117.6 Bcf/d from 116.1. 2026 US oil output cut to 13.86 mln bpd from 13.87 mln; 2027 unchanged at 14.3 mln bpd. US natural gas production seen rising to 127.1 Bcf/d in November from 126.2 Bcf/d in October, then to 127.6 Bcf/d in December. US oil production seen rising to 14.03 mln bpd in November from 13.81 mln bpd in October, then to 14.14 mln bpd in December.