Thursday , 19 October 2017

Home » RESOURCES » INVESTING » EIA raises oil price forecasts for 2016, 2017

EIA raises oil price forecasts for 2016, 2017

The U.S. Energy Information Administration raised its forecasts for this year and next on West Texas Intermediate and Brent crude prices in a monthly report issued Tuesday. The government agency said it expects WTI prices to average $34.60 a barrel this year. It previously forecast a 2016 average of $34.04. The EIA also said it expects Brent crude to average $34.73 a barrel this year, compared with a previous forecast for $34.28. For next year, the EIA sees Brent and WTI both averaging $40.58. May WTI oil traded at $41.56 a barrel, up $1.20, or 3%, on the New York Mercantile Exchange, buoyed by a report of a Saudi-Russian deal to freeze output. June Brent crude on ICE Futures added $1.47, or 3.4%, to $44.30 a barrel.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

EIA raises oil price forecasts for 2016, 2017 Reviewed by on . The U.S. Energy Information Administration raised its forecasts for this year and next on West Texas Intermediate and Brent crude prices in a monthly report iss The U.S. Energy Information Administration raised its forecasts for this year and next on West Texas Intermediate and Brent crude prices in a monthly report iss Rating:
scroll to top