Brent crude prices are on track for a sharp decline in the coming months, with the U.S. Energy Information Administration (EIA) now forecasting prices to fall from $71 per barrel in July to an average of $58 in the fourth quarter of 2025—and to slip toward $50 in early 2026. The August Short-Term Energy Outlook pins the drop on aggressive OPEC+ supply growth, which is expected to drive global inventory builds above 2 million barrels per day in late 2025 and early 2026—nearly 800,000 bpd more than last month’s forecast. Historically,…
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