EIA updates crude oil price forecast for 2015 and 2016 (5/13/2015)

In the May Short-Term Energy Outlook (STEO), released on May 12, EIA raised its 2015 price forecast for North Sea Brent crude oil to an annual average of $61/barrel (b), $1/b higher than in the April STEO. At the same time, EIA lowered its 2016 forecast of Brent prices to $70/b, $5/b lower than in the April STEO. ...