EIA: Brent Oil To Average $68 In Q3 2021

Brent Crude prices are expected to average $68 a barrel in the third quarter this year, the U.S. Energy Information Administration (EIA) said in its latest monthly outlook, raising the forecast by as much as $5 per barrel from the previous projection. In the June Short-Term Energy Outlook (STEO), the EIA also raised its Brent Crude forecast for June by $4 a barrel from the May STEO and now sees the international benchmark averaging $69 per barrel this month. Despite the COVID crisis in India, global oil demand remained higher than supply in May,…