EIA forecasts the Brent crude oil price will average nearly $88 per barrel for the first half of 2022

The U.S. Energy Information Administration (EIA) forecasts that the Brent crude oil price will average $90 per barrel in February and $88 per barrel for the first half of this year. In its February Short-Term Energy Outlook (STEO), EIA estimates that commercial oil inventories in the OECD fell to their lowest levels since mid-2014, which has contributed to current high prices.


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