US Department of Energy Lowers Forecast for Brent Crude Price to $82.8 per Barrel in 2024

Tuesday, 10 September 2024, 11:33

The US Department of Energy lowers the forecast for Brent crude prices in 2024 to $82.8 per barrel. This change marks a shift in market expectations as global factors influence oil prices. Additionally, the 2025 forecast sees an increase to $84.09, still reflecting cautious optimism in the sector.
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US Department of Energy Lowers Forecast for Brent Crude Price to $82.8 per Barrel in 2024

Market Analysis and Price Predictions

The US Department of Energy has significantly lowered its forecast for Brent crude oil prices for 2024 to $82.8 per barrel. This adjustment takes into account various global economic factors and market conditions affecting oil supply and demand.

Future Projections

Looking ahead, the forecast for Brent in 2025 anticipates a slight rise to $84.09 per barrel, which is 1.2% lower than previously expected. This indicates a cautious outlook amidst volatile market dynamics.

Key Contributors to Price Fluctuation

  • Global Supply Chain Issues
  • Geopolitical Tensions
  • OPEC Decisions

The ongoing shifts in the market highlight the intricate factors at play, influencing investment strategies and planning for energy companies.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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