EIA increases its forecast on oil prices

EIA increases its forecast on oil prices
  • Clock-gray 10:01
  • calendar-gray 10 February 2021

Energy Information Administration under the US Ministry of Energy has increased its forecast on price of Brent oil, APA-Economics reports citing the monthly report of the EIA.

Average price of the oil is expected to be USD 52,7 in 2021, which is USD 0,5 more in comparison with previous forecast.

According to the information, this indicator in 2022 is expected to be USD 55,19 (an increase of 1,75).

According to EIA calculations, average price of a barrel of Brent oil was USD 41,69 last year.

 

According to the report, average price of WTI is expected to be USD 49,7 in 2021 (according to previous forecast,  USD 49,7). This indicator is expected to reach USD 51,56 in 2022 (according to previous forecast,  USD 49,81).

It has also been noted in the report that average price of WTI was USD 39,17 last year.

Emil Ismayilov

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