https://www.eia.gov/outlooks/steo

Crude Oil Prices Forecast next month

Base case for next month: crude oil likely trades sideways to moderately higher, with WTI roughly US$58–65/bbl and Brent roughly US$62–70/bbl, assuming no major supply shock. EIA STEO and OPEC MOMR are the most useful baseline sources for near-term supply/demand balance [1] [4].

Bull case: geopolitical disruption, OPEC+ restraint, or stronger demand could push prices above the range [4].

Bear case: weaker global growth, higher inventories, or extra supply could pull prices lower [1].

Takeaway: next month’s oil price risk is more event-driven than trend-driven; watch inventories, OPEC+ messaging, USD strength, and Middle East supply headlines.