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Oil: The EIA lowers its estimate of production in the United States

10/02/2021
Categories: Index/Markets

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The American Energy Agency (EIA) is raising its forecast for the price of a barrel in the United States in 2021, 2022. Published on Tuesday, February 9, its forecast concerns the price of a barrel of American light crude oil (WTI) and Brant.

The EIA's forecast for the average price of WTI light crude is $50.21 a barrel this year, up 1% from its January forecast. It also raised its forecast for 2022 by 3.5%, to $51.56 a barrel.
The barrel of Brent rose by 0.9%, to 53.20 dollars for 2021 and that for 2022 by 3.3%, to 55.19 dollars. Compared to January, the EIA also reduced its forecast for crude oil production in the United States this year by 0.8%, to 11.02 million barrels per day.
For January delivery, WTI crude futures are up 0.7% intraday in New York to $58.64 a barrel.

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