Published: April 11, 2023 at 12:42 PM ET
The U.S. Energy Information Administration upgraded its 2023 and 2024 forecasts for U.S. and global benchmark oil prices in its monthly report released Tuesday. Brent crude oil prices are expected to average $85.01 this year, up 2.5% from March forecasts, and global benchmark prices in 2024 are expected to average $81.21, up 4.7% from previous forecasts, according to the EIA. is expected to be The EIA also raised its West Texas Intermediate crude oil price forecast by 2.8% to $79.24 a barrel this year and 5.1% to $75.21 next year. The EIA said higher price forecasts will come after OPEC and its allies (known as OPEC+) announce oil prices…
The U.S. Energy Information Administration has increased its projections for 2023 and 2024 U.S. and global benchmark oil prices in January 2018. Monthly report released on TuesdayThe average price of Brent crude this year is expected to average $85.01, up 2.5% from its March forecast, and the 2024 global benchmark price is up 4.7% from its previous forecast, to average $81.21 this year, according to the EIA. expected to be in dollars. The EIA also raised its West Texas Intermediate crude oil price forecast by 2.8% to $79.24 a barrel this year and 5.1% to $75.21 next year. The EIA said price forecasts rose after OPEC and its allies (known as OPEC+) announced his 2023 oil production cuts. EIA administrator Joe DeCarolis said in his release to the press. Oil prices continued to trade higher in Tuesday’s trading. May WTI Crude Oil
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On the New York Mercantile Exchange, it rose $1.49, or 1.9%, to $81.23 a barrel.June Brent Crude Oil
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Added $1.10, or 1.3%, to $85.28 per barrel for ICE Futures Europe.
