UPDATE: US EIA raises Brent 2020 price forecast to $40.5 per barrel

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MOSCOW, Jul 7 (PRIME) -- The U.S. Energy Information Administration (EIA) has raised the average Brent price forecast for 2020 to U.S. $40.5 per barrel from $38.02 per barrel, the authority said in a statement on Tuesday. 

The forecast for 2021 was increased to $49.7 from $47.88 per barrel.

The EIA raised the WTI price forecast for 2020 to $37.55 from $35.14 and for 2021 to $45.7 per barrel from $43.88.

The authority narrowed the forecast for an oil demand fall in 2020 to 8.1 million barrels per day from 8.3 million barrels per day.

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