Global Crude Benchmark Brent Forecast At $83.63/Barrel In 2023 - US EIA

Umer Jamshaid Published February 07, 2023 | 11:29 PM

Global Crude Benchmark Brent Forecast at $83.63/Barrel in 2023 - US EIA

Brent crude, the global benchmark for oil, is expected to trade about 17% lower on the average this year than in 2022, the US Energy Information Administration (EIA) said in a forecast issued Tuesday

WASHINGTON (UrduPoint News / Sputnik - 07th February, 2023) Brent crude, the global benchmark for oil, is expected to trade about 17% lower on the average this year than in 2022, the US Energy Information Administration (EIA) said in a forecast issued Tuesday.

The EIA's Short-Term Energy Outlook, or STEO, released each month, put Brent's like average price for 2023 at $83.63 per barrel versus the actual average of $100.94 in 2022.

For 2024, the forecast average was even lower, at $77.57 per barrel.

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