EIA Puts August Oil at $91 a Barrel While a Trade-Press
The EIA's 9 September outlook gives an August average of $91 a barrel and about $90 for the second half of 2026. An Offshore Technology item dated 24 September says crude benchmarks repeatedly flirted with $100, and the two figures measure different things.
Official data sits below the headline. The U.S. Energy Information Administration puts the August 2026 global oil price average at $91 a barrel and forecasts about $90 for the second half, while Offshore Technology reports benchmarks repeatedly flirted with $100. An average and a peak print measure different things. This is analysis, not advice.
The Gulf Barrel Desk · 2 min read- The EIA's Short-Term Energy Outlook of 9 September 2026 says global oil prices averaged $91 per barrel in August and forecasts around $90 in the second half of 2026.
- Offshore Technology's 24 September item says crude benchmarks repeatedly flirted with $100 per barrel, but its visible text names no benchmark and gives no dates, so it cannot be set against EIA's monthly average.
- The EIA assumes some Middle East export constraints persist through the end of the year, keeping regional output below pre-conflict averages until the second quarter of 2027.
- The GlobalData survey findings sit behind a registration wall, so no poll result is reported here.
- This is analysis, not advice: nothing in the piece is a trading call.
The official price record is calmer than the headline. The U.S. Energy Information Administration's 9 September 2026 outlook puts global oil prices at an August average of $91 per barrel. An Offshore Technology analyst comment dated 24 September says crude benchmarks have repeatedly flirted with $100. The two are not the same measure, and neither says how many barrels failed to load. This is analysis, not advice.
What the EIA's September outlook says about price
The US Energy Information Administration's Short-Term Energy Outlook, released on 9 September 2026, says global oil prices rose to an average of $91 per barrel in August. The same outlook forecasts prices around $90 per barrel in the second half of 2026 and a gradual fall to an average of $74 per barrel in 2027. These are EIA estimates and forecasts rather than live quotes, and they predate the 24 September trade-press item, so later price moves are not captured here.
Why $91 and $100 are not in conflict
A monthly average and a round-number touch measure different things. Offshore Technology's page says crude benchmarks have repeatedly flirted with the $100-per-barrel mark, but the visible text names no benchmark, gives no dates and does not say whether the figure is a spot, futures or intraday price. An August average of $91 and repeated approaches to $100 can both be true. Neither figure, on its own, says how many barrels failed to load.
The supply constraint the EIA assumes
The EIA's outlook treats the Middle East supply constraint as partial and persistent, not total. It forecasts that regional oil production will rise in the coming months because of gradually increasing flows through the Strait of Hormuz and the use of alternative routes. It also assumes some export constraints persist through the end of the year, keeping regional output below pre-conflict averages until the second quarter of 2027. That is a forecast assumption, not a measured export volume.
What remains unverified
The GlobalData survey cannot be assessed here. The Offshore Technology page sits behind a registration wall, and its visible text discloses no sample size, question wording or percentages, so this piece reports no poll findings. Its opening line, that retaliatory strikes cripple vital oil refineries and force shipping into costly detours, is the publication's characterisation and is unverified here. The next EIA outlook is the place to test it against data. This is analysis, not advice, and nothing here is a trading call.
- What does the EIA say oil prices were in August 2026?
- In its Short-Term Energy Outlook released on 9 September 2026, the EIA says global oil prices rose to an average of $91 per barrel in August. It forecasts around $90 per barrel in the second half of 2026 and an average of $74 per barrel in 2027. These are EIA estimates and forecasts, not live quotes, and this is analysis, not advice.
- Does a price near $100 a barrel mean the EIA figure is wrong?
- No. An August average of $91 can coexist with brief approaches to $100. Offshore Technology's visible text names no benchmark and no dates, so the two figures cannot be reconciled precisely. Neither one measures how many barrels were lost.
- What does the EIA assume about Middle East supply?
- The EIA forecasts that Middle East production will rise in the coming months as flows through the Strait of Hormuz gradually increase and alternative routes are used. It also assumes some export constraints last through year-end, keeping regional output below pre-conflict averages until the second quarter of 2027. This is a forecast, not a measured volume.
- Iran crisis throws new challenges for global energy security, as per GlobalData poll — Offshore Technology
- Short-Term Energy Outlook, September 2026 — U.S. Energy Information Administration