Baku, February 10, AZERTAC
The U.S. Energy Information Administration (EIA) lowered its forecast on oil prices in a new forecast.
The government agency expects WTI prices to average $37.59/bbl this year vs. $38.54/bbl prior forecast. The EIA sees Brent crude averaging $37.52/bbl in 2016 vs. $40.15 prior view. U.S. retail gas prices are seen averaging $1.98/gallon this year and $2.21/gallon in 2017.