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EIA raises crude price forecast for this year on economic optimism

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Washington-The price of WTI crude oil is projected to be $82.18/barrel in 2010, the US Energy Information Administration said May 11, up from the $80.74/b forecast a month ago, with the agency attributing the gain to "more optimistic economic growth forecasts." EIA expects WTI prices to average about $84/b in the second half of this year, EIA said in its May Short-Term Energy Outlook, and to average $85.50 in 2011, a $2 increase over the May forecast.

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