EIA: Crude oil prices are set to decline next year from the current levels of around $80 EIA: Global inventories will start to build again with supply rising more than demand Crude oil prices are set to decline next year from the current levels of around $80 a barrel as global inventories will start to build again with supply rising more than demand, the U.S. Energy Information Administration (EIA) said on Thursday. Brent Crude prices are set to average $72 per barrel next year, due to the expected surplus on the market on the back of rising production from the United States and the OPEC+ group. According to EIA’s latest monthly Short-Term Energy Outlook (STEO), global crude oil demand will exceed global supply through the end of this year, contribute to some additional inventory draws, and keep Brent Crude prices above $80 per barrel through December 2021. Global oil […]