EIA's Short-Term Energy Outlook said the global oil price average in August rose to $91/bbl, up $7 from July, mainly due to falling global inventories. The EIA estimates inventories have fallen 400 mln bbl year-to-date and projects they will continue to decline through end‑2026, keeping oil prices near August's average over the next few months. With supply rising next year and inventories gradually recovering, the EIA expects prices to retreat in 2027.

2026-09-10

EIA's Short-Term Energy Outlook said the global oil price average in August rose to $91/bbl, up $7 from July, mainly due to falling global inventories. The EIA estimates inventories have fallen 400 mln bbl year-to-date and projects they will continue to decline through end‑2026, keeping oil prices near August's average over the next few months. With supply rising next year and inventories gradually recovering, the EIA expects prices to retreat in 2027.