MOSCOW, Mar 11 (PRIME) -- The U.S. Energy Information Administration (EIA) has lowered its forecast for the average Brent oil price in 2020 to U.S. $43.3 per barrel from $61.25 per barrel, the EIA said on Wednesday.
The forecast for 2021 was lowered to $55.36 per barrel from $67.53 per barrel.
The forecast for the WTI crude price was lowered to $38.19 per barrel from $55.71 per barrel for 2020 and to $50.36 per barrel from $62.03 per barrel for 2021.
The EIA also lowered its outlook for the U.S. oil production in 2020 by 210,000 barrels per day to 12.99 million barrels per day. For 2021, the forecast was reduced by 900,000 barrels to 12.66 million barrels per day.
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