Shafaq News/ The U.S. government has substantially raised its international oil price forecast for 2021-22. 

The U.S. Energy Information Administration (EIA) predicts that the crude oil price in New York in 2021 will be $65.85/barrel, compared to the previous estimate of $61.85/barrel; it is expected to be $62.97/barrel in 2022. It is expected to be $56.74/barrel.

As for the price of Brent crude oil, EIA estimates that it will be US$68.78/barrel in 2021, compared to the previous estimate of $65.19/barrel; it is expected to be $66.64/barrel in 2022, and the previous estimate is $60.49/barrel.

EAI said, by the end of 2021;  20 thousand barrels per day will be added to the average oil production to reach 11.1 million barrels per day.

For 2022, it expected an increase by 60 thousand barrels, to reach 11.85 million barrels per day.