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USA EIA Lowers 2024 Brent Oil Price Forecast
The U.S. Energy Information Administration (EIA) lowered its 2024 Brent spot price forecast in its latest short term energy outlook (STEO), which was released this week. According to its June STEO, the EIA now sees the Brent spot price averaging $84.15 per barrel this year. In its previous May STEO, the EIA projected that the Brent spot price would average $87.79 per barrel in 2024. The 2025 Brent spot price forecast stood at $85.38 per barrel in both STEOs. In its latest outlook, the EIA projected that the Brent spot price will average $83.71 per barrel in the second quarter of 2024, $83.25 per barrel in the third ... (full story)