Brent crude oil prices will remain in the area of current levels until the end of 2021 and will average $ 82 per barrel, according to the US Energy Information Administration. According to the forecast of the management, in 2022 the price of Brent oil is expected to decline to $ 72 per barrel.
“Brent spot prices averaged $ 84 per barrel in October, $ 9 more than in September and $ 43 more than in October 2020,” the management said. In addition to steadily declining inventories, prices rose after OPEC + announced in early October and confirmed on November 4 that the organization would maintain current production figures unchanged, the US Energy Information Administration noted.
Earlier, the ministers of OPEC and non-OPEC countries supported the plan to increase oil production by 400 thousand barrels per day in December. After it became known that US President Joe Biden may resort to commodity interventions to stabilize the fuel market.
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