EIA Raises Crude Oil Price Outlook ...Middle East

The Energy Information Administration lifted its outlook for Brent crude oil prices for this year and next, the agency said in a Tuesday report. The EIA now sees the spot price for Brent crude oil averaging $87 per barrel, according to the latest edition of the Short-Term Energy Outlook published on Tuesday. That’s up 5.6% from the previous month’s forecast of $82, and up from the current price of just over $82 per barrel. For next year, the EIA sees the crude oil benchmark averaging $85 per barrel—a 6.7% increase over the $79…

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