EIA increases its forecast on oil production

EIA increases its forecast on oil production
  • Clock-gray 10:29
  • calendar-gray 09 December 2020

Energy Information Administration under the US Ministry of Energy forecasts that the average price of a barrel of Brent oil for 2020 will be USD 41,43, which is 2,02% more in comparison to the forecast of the previous year, APA-Economics reports citing the monthly report of EIA.

According to the information, in accordance with the previous forecast, the average price of Brent oil was expected to be USD 40,61 for this year.

According to the information, the average price of the mentioned oil for 2021 is expected to be at the level of USD 48,53. This is 4,16% more in comparison to the previous forecast.

Agency forecasts the average price of WTI oil for this year will be USD 38,96 (1,88% increase), and USD 45,78 (3,48% increase) for 2021.

Emil Ismayilov

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