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by John S. Marshall After a year of depressed prices and dramatic price swings oil industry, officials expect to ring out the old when clocks around the world strike midnight on New Year s Eve. Though economies across the globe are still struggling with the devastating impact of the COVID-19 pandemic, analysts foresee oil prices will move modestly higher in the coming year. The U.S. Energy Information Administration (EIA), which tracks and analyzes energy markets and prices for the government, predicted in its latest forecast that Brent crude oil prices, the international benchmark for oil prices, will average around 49 U.S. dollars per barrel in 2021.

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