EIA forecasts mostly flat crude oil prices and increasing production in 2018 and 2019 (1/10/2018)

The price of Brent crude oil averaged $54/barrel (b) in 2017, an increase of $10/b from 2016. EIA's January Short-Term Energy Outlook forecasts Brent to average $60/b in 2018 and $61/b in 2019. In both 2018 and 2019, EIA expects total global production to be slightly greater than global consumption, with U.S. production increasing faster than production in any other country, contributing to modest inventory builds. ... More »