U.S. EIA forecasts OPEC+ cuts to keep oil prices steady, raise energy costs

HOUSTON, Feb. 11 (Xinhua) -- The U.S. Energy Information Administration (EIA) on Tuesday projected that OPEC+ production cuts will keep global oil prices stable through early 2025, with a decline anticipated later in the year as supply rises.

According to the latest Short-Term Energy Outlook (STEO) report, Brent crude is forecast to average 74 U.S. dollars per barrel in 2025 before falling to 66 dollars per barrel in 2026 as global oil inventories expand.