US EIA Raises 2026-2027 Oil Price Forecasts on Iran War Supply Disruptions

Key Facts

1The US Energy Information Administration raised its oil price forecast for this year and next due to rapidly falling global stockpiles.

2The ongoing war in Iran has led to tight diesel markets and a significant drain on global oil stockpiles.

The US Energy Information Administration raised its oil price forecast for this year and next due to rapidly falling global stockpiles. Reuters reported that the agency revised its projections for 2026 and 2027 citing a faster-than-expected decline in inventories. The EIA stated that the ongoing war in Iran has led to tight diesel markets and a significant drain on global oil stockpiles.

This upward revision follows persistent disruptions to energy supply chains caused by the regional conflict. Alongside these forecasts, American Petroleum Institute (API) data from September 29, 2026, showed a crude oil stock increase of 1.019 million barrels, contrasting with market expectations of a 1.9 million barrel draw.