EIA oil price forecast up $5 per barrel
US drilling activity expected to increase based on higher prices, with production expected to average 13.4 million bpd next year
The Brent crude oil spot price averaged $71 per barrel in April, the U.S. Energy Information Administration said May 7, an increase of $5 from March and just below the April 2018 price, and the agency has increased its forecast for the annual average for both this year and next.
“In the May Short-T....
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Growing US, OPEC production
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