HOUSTON, Jan. 14 (Xinhua) -- The U.S. Energy Information Administration (EIA) on Tuesday forecast that Brent spot prices will be higher on average in 2020 and 2021 than in 2019, revising up its forecast last month.
In its January Short-Term Energy Outlook (STEO), the EIA forecast Brent spot prices will average 65 U.S. dollars per barrel in 2020 and 68 dollars per barrel in 2021, compared with an average of 64 dollars per barrel in 2019. In its December STEO, the EIA forecast Brent spot prices would average 61 dollars per barrel in 2020.
The EIA expected West Texas Intermediate (WTI) crude oil prices will average about 5.50 dollars per barrel lower than Brent prices through 2020 and 2021, compared with an average WTI discount of about 7.35 dollars per barrel in 2019. Enditem
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