[ad_1] In the July Short-Term Energy Outlook (STEO), we forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in the June STEO forecast. We revised global production down by 210,000 barrels per day (b/d) in 2H21, leading… Continue reading EIA raises oil price forecast for 2021
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OPEC raises forecast on Azerbaijan’s oil production
[ad_1] The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2021 and 2022 by 0.04 and 0.03 million barrels, respectively, Report informs, citing the organization’s July report. According to the document, liquid hydrocarbon production in Azerbaijan is expected… Continue reading OPEC raises forecast on Azerbaijan’s oil production