EIA: Latest STEO shows resilient oil output delaying market rebalance

In its latest Short-Term Energy Outlook, the US Energy Information Administration forecasts the price of Brent crude oil to average $34/bbl in 2016 compared with an earlier forecast of $37/bbl. In 2017, EIA forecasts Brent to average $40/bbl compared with $50/bbl in last month’s forecast.

Source: News