US Department of Energy raised the cost of Brent crude in 2021
The US Department of Energy has raised the forecast for the cost of Brent oil in 2021 by 5.5% – from $ 65.2 to $ 68.8 per barrel, according to Azerbaijan in Focus, reporting Turan News, with reference to the report from the Energy Information Administration (EIA) of the US Department of Energy.
The agency expects Brent oil quotes in the second half of 2021 to average $ 72 per barrel. In 2022, according to the ministry, the price of Brent oil will drop to $ 66.6 per barrel against the backdrop of continued growth in oil production by OPEC + countries and an increase in hard-to-recover oil production in the United States.
The price of WTI crude oil is projected at $ 65.9 per barrel in 2021 and $ 62.97 in 2022, TASS reports.