WASHINGTON, D.C. (Bloomberg) -- The U.S. Energy Information Administration cut 2014 and 2015 crude price forecasts because of rising output and reduced demand. West Texas Intermediate will average $94.58/bbl in 2015 versus the September projection of $94.67, the EIA said Oct. 7 in its monthly Short-Term Energy Outlook. The agency trimmed its Brent crude forecast for next year to $101.67 from $103. It also cut its gasoline price outlook.
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U.S. cuts 2014, 2015 oil price forecasts as crude output surges
![U.S. cuts 2014, 2015 oil price forecasts as crude output surges]()
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