EIA: OPEC+ Cuts To Lift Oil Prices Through April

Oil prices will likely remain at the current high levels in March and April, with Brent Crude prices averaging between $65 and $70 per barrel, after the OPEC+ group unexpectedly decided to maintain their production cuts into April, the U.S. Energy Information Administration (EIA) said on Wednesday. In its Short-Term Energy Outlook (STEO) for March, the EIA expects Brent prices to average $65 to $70 per barrel in March and April, more than $10 a barrel above the forecast from February, primarily due to OPEC+ keeping a tight rein on production in…