US Department of Energy raises growth forecast on oil prices

Baku. 10 February. REPORT.AZ/ Energy Information Agency (EIA) of US Department of Energy raised growth forecast on oil prices by 1.5 USD or 2.8% for 2017.

Report informs citing Bloomberg agency, short-term review report on energy sector says.

According to report, EIA expects global consumption of oil and oil products in 2017. For that reason, average annual price of WTI crude in 2017 is expected to reach 54 USD/barrel, Brent oil 55 USD/barrel.

Notably, EIA's forecasts last year were 52,5 and 53,5 USD/barrel respectively.

In addition, EIA kept average daily oil production forecast in United States at 9 mln barrel in 2017, but for the year 2018, increased from 9.3 mln to 9.5 mln barrel.