EIA: Strait of Hormuz Disruption Reshapes 2026 Oil Outlook
ENERGY
EIA: Strait of Hormuz Disruption Reshapes 2026 Oil Outlook
The U.S. Energy Information Administration's June 2026 Short-Term Energy Outlook reports Middle East producers cut crude output by more than 11 million barrels per day in May amid the effective closure of the Strait of Hormuz. The EIA forecasts Brent crude averaging around USD 105 per barrel through mid-year, with global oil demand now expected to contract by 1.1 million b/d in 2026 before rebounding in 2027.
U.S. Energy Information Administration — Short-Term Energy Outlook · June 2026