The U.S. Energy Information Administration raised 2021 projections for benchmark U.S. and global oil prices in a monthly report Tuesday, revealing the recent decision by major oil producers to address the current supply cuts. already extended through April has supported prices soon. The EIA added the 2021 West Texas Intermediate crude price forecast to $ 57.24 a barrel, up 14% from the January forecast. Prices are expected to average 2022 to $ 54.75, up 6.2% from the previous forecast. For crude Brent, it also raised this year’s forecast 14% to $ 60.67 and next year 6% to $ 58.51. The EIA also said that domestic oil production is expected to average 11.15 million barrels per day this year, up 1.2% from the previous forecast and raised its 2022 forecast by 4.3% to 12.02 million barrels per day. day. In Tuesday’s deal, April West Texas Intermediate Raw CLJ21,
traded at $ 63.98 a barrel, down $ 1.07, or 1.6%. May Brent crude BRNK21,
traded at $ 67.49, down 75 cents, or 1.1%.