In 2023, a barrel of North Sea Brent oil will cost $83.1 per barrel, but before that it was assumed that this year’s raw material cost would be $92.36. About informs TASS refers to the updated estimate of the U.S. Department of Energy’s Energy Information Administration (EIA).
“The U.S. Department of Energy cut its forecast for the cost of Brent crude oil for 2023 by 10%, from $92.36 to $83.1 per barrel. The agency expects the price of Brent to be $77.57 per barrel in 2024.
In addition, the US agency also expects the level of raw material production in the US to rise to 12.41 million barrels per day this year (+70 thousand barrels compared to the previous estimate). At the same time, it is stated that the expected oil production volume in the USA by the end of 2024 will be at an even higher level, reaching 12.81 million barrels per day.
January 10 Bloomberg reportedThat Russian Ural oil is currently being sold for half the price of the North Sea brand of Brent – at $38 a barrel – with a “small circle of buyers”. This level is well below the “ceiling” set by the European Union (EU) at around $60.