The U.S. Energy Information Administration has released its latest short term energy outlook. The U.S. Energy Information Administration (EIA) has released its latest short term energy outlook (STEO), which offers the organization’s latest Brent crude oil price forecasts for this year and the next. According to the September STEO, the EIA sees the Brent spot price averaging $104.21 per barrel in 2022 and $96.91 per barrel in 2023. Broken down quarterly, the STEO forecasts that the commodity will average $103.89 per barrel in the third quarter of this year and $97.98 per barrel in the fourth quarter of 2022. In its previous STEO, which was released in August, the EIA projected that the Brent spot price would average $104.78 per barrel in 2022 and $95.13 per barrel in 2023. The EIA’s August STEO forecasted that the Brent spot average price would come in at $105.82 per barrel in the […]