The Energy Information Administration on Tuesday raised its U.S. and global oil-price forecasts for this year and next, following a plan by the Organization of the Petroleum Exporting Countries and their allies to reduce production even further this year.
The government agency, however, also pointed out that growth in the production of liquid fuels, which include oil and products of petroleum refining, is poised to “shift” away from OPEC-member countries.
OPEC+,…
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