The US Department of Energy increased its forecast for the average price of Brent standard oil in 2023 to $82,62 per barrel from $79,34, APA-Economics reports citing the report of Energy Information Administration (EIA) under the US Ministry of Energy.
Oil might reach $86,48 per barrel in 2024 (previous forecast – $83,51).
WTI crude oil's average price is estimated to reach $77,79 per barrel in 2023 (previous forecast – $74,43) and $81,48 per barrel (previous forecast – $78,51) in 2024.
It is noted that last year the average price of "Brent" was $100.94, and WTI was $94.91.