February 2022, Vol. 249, No. 2

Global News

Global News February 2022

EIA Updates Oil Price Forecasts Through 2023   The U.S. Energy Information Administration (EIA) has updated its short-term energy outlook to forecast an average Brent crude oil price of $75 per barrel in 2022 and $68 per barrel in 2023, compared with its average daily spot price of $71 per barrel in 2021.   The agency warned, however, that its forecast continues to reflect heightened levels of uncertainty because of the ongoing COVID-19 pandemic. “Notably, the Omicron variant of COVID-19 raises questions about global energy consumption,” it said.    U.S. real GDP declined by 3.4% in 2020 from 2019 levels. Based on forecasts that use the IHS Markit

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