EIA Outlook Forecasts Price Drop for Oil, Lower Production

摘要

Prices for North Sea Brent crude oil, the international benchmark, averaged $44/bbl in November, a $4/bbl decrease from October, reports the Energy Information Administration (EIA) in its December Short Term Energy Outlook. Global oil inventories are estimated to have increased by 1.3 MMbbld in November, putting downward pressure on Brent prices.