US EIA drops WTI, Brent forecasts for 2017 about $10/b

摘要

Washington-The US Energy Information Administration slashed its 2017 price projections for WTI and Brent crude by about $10/b from just a month earlier as production continues to best expectations and global supply continues to outpace demand. The EIA now believes WTI and Brent will both average $40.09/b next year. The agency forecasts WTI to average $34.04/b and Brent to average $34.28/b this year, which are $3.55 and $3.24 lower, respectively, than estimates from month ago. The projections were made Tuesday in its Short-Term Energy Outlook. The estimates for 2016 prices are significantly lower than the $70/b WTI and $75/b Brent EIA had forecast in its STEO a year earlier, when the decline in price estimates began.