Oil Prices Stable After Bearish EIA Report ...Middle East

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Oil Prices Stable After Bearish EIA Report
source : OILPRICE ( Middle East ) () 81
Crude oil prices remained stable today after dipping on Tuesday following the release of the Energy Information Administration’s latest Short-Term Energy Outlook. In the outlook, the EIA predicted weaker oil prices this year and next, citing expectations that OPEC will roll back its production cuts and non-OPEC oil producers will continue raising their output at intensive rates. As a result, Brent crude and West Texas Intermediate dipped on Tuesday, only to rebound later, with Brent crude returning above $80 per barrel and WTI inching closer…

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