European Commission sharply raises forecast for Brent price

The European Commission has raised tangibly its estimate of the average annual price of Brent crude for 2021 and 2022 in its interim winter economic forecast compared to the one published in early November 2020.

Report informs with reference to Prime that, according to the futures markets, an average price of Brent crude is projected at $54.7 per barrel in 2021 and $52.4 per barrel in 2022.

Previously, the European Commission expected $44.6 on average this year and $46.4 in 2022.