13.11.2014 - EIA Slashes Oil-Price Forecasts for 2015
Government forecasters sharply lowered their projections for oil prices this year and next, reflecting higher global supply expectations. The U.S. Energy Information Administration, in its monthly short-term energy outlook released Wednesday, called for benchmark U.S. crude-oil prices to average $95 a barrel this year and $77.75 a barrel next year, below its previous forecasts of $97.72 a barrel this year and $94.58 a barrel next year. For Brent, the global benchmark, the EIA expects prices to average $101.04 a barrel in 2014 and $83.42 a barrel in 2015. In October, the agency called for price averages of $104.42 a barrel this year and $101.67 a barrel next year...............................................Full Article: Source
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