Moscow. January 13. The energy information administration (EIA) U.S. Department of energy has lowered its forecast of oil prices for the current year by more than 20%.
The average price of WTI is expected to average $38,54 per barrel compared with the previous estimate of $50,89 per barrel. The forecast for Brent reduced to $of 40.15 per barrel from $55,78 per barrel.
In 2017 WTI will average $47 per barrel and Brent at $50 a barrel, experts expect control.
World oil consumption this year will be 95,19 million barrels per day (b/d) than anticipated in December 95,22 million b/d. Demand next year will increase to 96,61 million b/d, EIA predicts.
While management has increased the forecast of oil production in the world this year to 95,93 million b/95,79 million b/d.
It is expected that oil production in the U.S. will be reduced on average by 700 thousand b/d in 2016 and 270 thousand b/d next year. In 2015, the figure amounted to 9,43 million b/d, thus, in the current year it is planned to produce in volume 8,73 million b/d (in December it was expected 8,76 million b/d).
“Because of low oil prices, oil production in the U.S. is projected to fall by nearly 700 thousand b/d this year, the first decline since 2008”, – stated in the message.