Speaker of the U.S. House of Representatives Johnson: We will write the spending cuts for DOGE into law
Speaker of the U.S. House of Representatives Johnson: If you calculate correctly, the tax bill will reduce the deficit. We will write the spending cuts for DOGE into law. The regulation of DOGE will become a permanent function of the government.
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.
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