The agency also slightly raised its forecast for daily oil production in the United States to 11.08 million barrels per day.
The US Department of Energy has raised its forecast for the price of Brent crude oil in 2021 by 4.7% – from $62.3 to $65.2 per barrel. This is stated in the report of the Energy Information Administration (EIA) of the US Department of Energy.
The agency expects Brent crude oil prices to average $68 per barrel in the third quarter. In 2022, according to the ministry, the price of Brent oil will be set at $60.5 per barrel.
The price of WTI crude oil is projected at $61.9 per barrel in 2021 and $56.7 in 2022.
In addition, the US Department of Energy slightly increased the forecast of daily oil production in the United States in 2021 – by 60 thousand barrels, to 11.08 million barrels per day. Expected production volumes in 2022 decreased by 5 thousand barrels, to 11.79 million barrels per day.