EIA reduced its oil price forecasts

EIA reduced its oil price forecasts
  • Clock-gray 11:40
  • calendar-gray 13 September 2019

Brent crude oil spot prices averaged $59 per barrel (b) in August, down $5/b from July and $13/b lower than the average from August of last year, APA-Economics reports citing EIA.

EIA forecasts Brent spot prices will average $60/b in the fourth quarter of 2019 and $62/b in 2020. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020.

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