EIA – Short-Term Energy Outlook, May 2025

The Short-Term Energy Outlook provides a forecast of U.

S. energy markets. It projects a decrease in oil prices, with Brent crude expected to average $62 per barrel in the second half of 2025 and $59 per barrel in 2026. U.S. oil production is forecasted to rise to 13.5 million barrels per day by 2026. Natural gas prices at the Henry Hub are expected to be $4.10 in 2025 and $4.80 in 2026. Liquefied natural gas exports from the U.S. are projected to increase to 16 billion cubic feet per day by 2026. The U.S. GDP growth rate is expected to slow to 1.5% in 2025 and 1.6% in 2026. The share of renewable energy in U.S. electricity generation is expected to reach 27% by 2026.