According to foreign sources on December 12th, the US Energy Information Administration (EIA) announced on Tuesday in its monthly short-term energy outlook report that it will lower its forecast for Brent crude oil prices in 2024

The report predicts that Brent prices will be $82.57 per barrel in 2024, compared to the previous expectation of $93.24 per barrel; The expected Brent price for 2023 is $82.40 per barrel, compared to the previous expectation of $83.99 per barrel. The report predicts that the WTI crude oil price in 2023 will be $77.63 per barrel, compared to the previous expectation of $79.41 per barrel. The expected WTI crude oil price in 2024 is $78.07 per barrel, compared to the previous expectation of $89.24 per barrel.

EIA stated that in mid-2024, OPEC's production reduction measures will boost the average spot price of Brent crude oil to $83 per barrel, while this month's average spot price of Brent crude oil is expected to be $78 per barrel.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.