The latest EIA outlook includes a notable upward revision to crude oil price forecasts for both 2026 and 2027, while also adjusting its expectations for global supply and demand. 2026 global oil output is seen at 100.8 mln bpd , down from the previous forecast of 101.9 mln bpd. 2027 global oil output is seen at 109.7 mln bpd , versus 109.8 mln bpd previously. 2026 world oil demand is seen at 102.7 mln bpd , versus 102.8 mln bpd previously. Crude oil prices are currently up $1.05 at $83.19.