EIA boosts WTI, Brent crude price forecasts on OPEC+ supply cuts

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The US Energy Information Administration April 11 raised its crude price forecasts for 2023, citing the decision by OPEC and its allies to cut production by 1.6 million b/d. The agency, in its April Short-Term Energy Outlook, raised its 2023 Brent crude forecast by 2.5% to $85.01/b and its 2024 Brent forecast by 4.7% to $81.21/b. The EIA raised its…