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Short-Term Energy Outlook – August 2025
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Short-Term Energy Outlook – August 2025

U.S. energy market indicaThe Brent crude oil price in our forecast declines significantly in the coming months, falling from $71 per barrel (b) in July to $58/b on average in the fourth quarter of 2025 (4Q25) and around $50/b in early 2026. The price forecast is driven largely by more oil inventory builds following OPEC+ members’ decision to accelerate the pace of production increases.