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Next year the price of brent oil per barrel is expected to be $ 96.91

The US Energy Information Administration (EIA) revised down its forecast for brent oil prices for this year, taking into account factors such as disruptions and slower-than-expected production.

Next year the price of brent oil per barrel is expected to be $ 96.91

The US Energy Information Administration (EIA) revised down its forecast for brent oil prices for this year, taking into account factors such as disruptions and slower-than-expected production.
In the "September 2022 Short-Term Energy Outlook Report" of the EIA, it was estimated that the average price of brent oil per barrel for this year would be $104.21. This figure was $104.78 in the August report.

Next year, the price of brent oil per barrel is expected to be $ 96.91, while the price of WTI crude oil is expected to be $ 90.91.
In the report, it was noted that crude oil barrel prices will remain in the range of $ 90-100 until the end of next year, but extreme uncertainty in the oil market may cause fluctuations in prices.

US crude oil production expected to rise

According to the report, the average daily crude oil production in the USA is expected to be approximately 11 million 800 thousand barrels this year. Last year, this amount was recorded as approximately 11 million 190 thousand barrels.
It is calculated that the production will exceed 12 million 300 thousand barrels, which is the record production level of 2019, and reach 12 million 600 thousand barrels in 2023.
It is predicted that OPEC's daily crude oil production will be 33 million 765 thousand barrels on average in the second half of this year, and it will reach 34 million 410 barrels in the fourth quarter of the year. It is estimated that it will be 34 million 110 thousand barrels in the whole year and 34 million 490 thousand barrels next year.

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