EIA Predicts Below $60 Crude Prices By Q4

The U.S Energy Information Administration (EIA) on Tuesday predicted that Brent crude spot prices could average below $60 per barrel in the fourth quarter, a level not seen since 2020.

A statement by the Agency said its statistical team had cited global supply outpacing demand growth as a key factor behind the expected price drop.

“There’s a lot of uncertainty in the petroleum market,”…