The US Department of Energy changed its forecast for the price of Brent oil in 2023, increasing the relevant figure to $84.46 per barrel. This is evidenced by a report by the agency’s Energy Information Administration. TASS.
As stated in the material, the cost of fuel in the previous estimate was $ 82.62 per barrel. At the same time, the American ministry predicts that Saudi Arabia’s decision to reduce oil production by 1 million barrels per day will lead to a decrease in global reserves of such resources.
As a result, fuel prices on the global market will increase significantly, according to the ministry. According to the report, the barrel price of Brent oil may reach 93 dollars in the fourth quarter of this year. The document states that fuel will be sold for an average of $88 per barrel in 2024.
The report also states that the US Department of Energy has increased its daily oil production forecast this year. This figure for the country remained at 12.78 million barrels per day, 20 thousand barrels above the previous estimate. Expected fuel production amounts next year increased by 70 thousand barrels per day, reaching 13.16 million barrels.
Previously the price of Brent crude oil on the London Stock Exchange (ICE) exceeded $92 per barrel.