US announces forecast for Brent oil

US announces forecast for Brent oil
# 08 May 2019 18:45 (UTC +04:00)

Brent crude oil spot prices averaged $71 per barrel (b) in April, up $5/b from March 2019 and just below the price in April of last year, ONA reports.

EIA forecasts Brent spot prices will average $70/b in 2019 and $67/b in 2020, both about $5/b higher than in last month’s STEO, compared with an average of $71/b in 2018.

EIA’s higher Brent crude oil price forecast reflects tighter expected global oil market balances in mid-2019 and increasing supply disruption risks globally.

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