EIA increases its forecast on oil prices

EIA increases its forecast on oil prices
  • Clock-gray 10:08
  • calendar-gray 13 January 2021

Average price of a barrel of Brent oil was USD 41,69 last year, APA-Economics reports citing monthly reports of the Energy Information Administration under the US Ministry of Energy.

Average price of Brent oil for 2020 was forecasted USD 41,43 last month.

According to information, average price of mentioned oil is expected to be USD 52,7 in 2021. It is 8.6% more in comparison with the previous forecast. This indicator is expected to be USD 53,44 in 2022.

According to the report, avergae price of WTI was USD 39,17 last year (according to the previous forecast, it was USD 38,96), but it is forecasted to be USD 49,7 in 2021 (an increase of 8.6%). This indicator is expected to be USD 49,81 in 2022.

 

Emil Ismayilov

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