13 Dec, 23

EIA Revises Down Brent Oil Price Forecast For Next Year

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The Brent crude oil spot price will average $83 per barrel next year, the Energy Information Administration (EIA) said in its monthly Short Term Energy Outlook (STEO) published on Tuesday. In last month’s STEO, the EIA had forecast 2024 forecast for the Brent crude oil benchmark at $93 per barrel. For the first half of next year, the EIA sees Brent averaging $84 per barrel. While this is a decrease from the crude oil forecast it published last month, the forecast price is still up from an average of $78 per barrel in December. The EIA attributed…

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