The US Energy Information Administration revised its crude price forecast higher in its monthly Short-Term Energy Outlook released March 9 amid tightened first quarter supply outlooks. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The EIA now expects Brent crude prices to average $60.67/b in 2021, up $7.47/b from its February forecast, and $58.51/b in 2022. EIA expects the WTI spot price to average $57.24/b in 2021, up $7.03/b from February, and at $54.75/b in 2022. The upward revision stems from tightened supply outlooks during the first half of the year after the OEPC+ group March 4 unexpectedly extended the bulk of their output cuts through April. Crude prices are expected to come under pressure in the second half […]