US Energy Information Administration publishes oil price forecast

In the High Oil Price case, EIA forecasts the price of Brent crude oil in 2019 dollars will reach $183 per barrel by 2050, compared with $105 per barrel in the Reference case and $46 per barrel in the Low Oil Price case, Report says, citing the Annual Energy Outlook 2020.

The US Energy Information Administration (EIA) said on Wednesday that the United States will become a net exporter of energy in 2020 and will maintain its position until 2047.

Meanwhile, EIA's assumed crude oil prices in AEO 2020 are influenced more by assessments of international markets than by assumptions about domestic resources and technological advances.