Global oil prices will continue to inch up in the coming months, with Brent averaging $50/b by the second half of 2021 as inventories decline, US Secretary of Energy Dan Brouillette said July 28. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “These developments are setting the stage for what we think will be a very strong economic recovery,” Brouillette told a virtual meeting of the Department of Energy advisory board. The Energy Information Administration forecasts Brent prices will average about $51/b in the third quarter 2021 and $53/b in Q4 2021. It expects WTI prices to average $47/b in Q3 2021 and $49/b in Q4 2021. Crude prices in 2019 averaged $64.37/b for Brent and $57.02/b for WTI. The […]