The US Department of Energy’s Energy Information Administration (EIA) increased its Brent oil price forecasts in its Short-Term Energy Outlook study published in July. While the price forecast for Brent oil for the second half of 2021 was announced as 72 dollars / barrel, the price forecast for 2022 was stated as 67 dollars / barrel.
EIA, which revised its global oil production forecast downwards by 210,000 barrels per day in the second half of the year, announced that this contributed to the increased price forecast.