US Department of Energy raises oil price forecast in 2023

The US Department of Energy raised its forecast for the price of Brent crude in 2023 from $83.1 per barrel to $83.63.

And according to a report from the Energy Information Administration, affiliated with the US Department of Energy, on Tuesday that Brent crude prices in 2024 will be at $ 77.57 per barrel, that is, without any changes compared to the previous bulletin of its expectations. .

As for West Texas Intermediate (WTI) crude oil, the Department of Energy expects its price to be $77.84 per barrel this year and $71.57 per barrel in 2024.

The Department of Energy raised its forecast for US daily oil production by 80,000 bpd to 12.49 million bpd this year.

It is expected that the volume of oil production in the US next year will reach 12.65 million barrels per day, which is lower than previous expectations by 160 thousand barrels per day.

Source: TASS

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