Oil prices will likely remain at the current high levels in March and April, with Brent Crude prices averaging between $65 and $70 per barrel, after the OPEC+ group unexpectedly decided to maintain their production cuts into April, the U.S. Energy Information Administration (EIA) said on Wednesday. In its Short-Term Energy Outlook (STEO) for March, the EIA expects Brent prices to average $65 to $70 per barrel in March and April, more than $10 a barrel above the forecast from February, primarily due to OPEC+ keeping a tight rein on production in April. Earlier this month, the OPEC+ alliance decided not to raise production from April, except for small increases for Russia and Kazakhstan, while top OPEC producer and de facto leader, Saudi Arabia, is keeping its extra 1 million bpd cut into April. This was contrary to market expectations which had revolved around the group easing the cuts […]