Production

EIA foresees ‘significant decline in the price of oil’ as supply growth looms

US agency projects Brent falling to $58 per barrel in fourth quarter

A pump jack operates in an oil field in Midland, Texas, US on Wednesday, 29 July 2020.
A pump jack operates in an oil field in Midland, Texas, US on Wednesday, 29 July 2020.Photo: AP/SCANPIX
North America Energy CorrespondentBaton Rouge
Published 12 August 2025, 17:49Updated 12 August 2025, 17:49
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