6 lowered its 2024 crude price forecast slightly despite attacks on shipping in the Red Sea, based on expectations that increasing global oil inventories will put downward pressure on prices in the second half of the year. In its February Short-Term Energy Outlook, the EIA lowered its 2024 ...
The recent move higher in oil prices is likely to be temporary as higher production causes benchmark crude prices to fall from their 2024 levels this year and next, the U.S. Energy Information Administration said. "Following some initial upward price pressure in early 2025, we expect ...
In its short-term energy outlook for May, the EIA lowered its forecast for the average price of Brent crude oil in 2023 by US$6.36/barrel to US$78.65/barrel, much lower than its forecast of US$85/barrel in April. Similarly...
“These changes have largely offset each other in our forecast global balances, and beyond the first quarter of 2023, we have left our crude oil price forecast largely unchanged from last month’s outlook,” the EIA continued. In its February STEO, the EIA highlighted that it expected the Br...
EIA's October forecast recognized a higher level of oil supply disruption risk than previously assumed, more-than-offset by increasing uncertainty about economic and oil demand growth in the coming quarters, resulting in a lowered oil price forecast. ...
Crude prices in 2024 and 2025 are expected to remain largely flat relative to 2023 prices, according to a US Energy Information Administration (EIA) forecast. Brent prices will remain stable around the 2023 average of $82/bl in 2024, with a slight decrease to $79/bl in 2025, according to...
The Energy Information Administration's (EIA) Cushing Crude Oil Stocks Change is one of the key factors of WTI oil price changes. Cushing (Oklahoma) is the delivery point for the US WTI crude oil
Other key takeaways from the January 2023 STEO forecast include: U.S. gasoline prices are largely tied to crude oil, and EIA expects significant price decreases at the pump compared with 2022. EIA forecasts U.S. gasoline prices to average around $3.30 per gallon in 2023 and $3.10 per gall...
EIAShort-Term Energy Outlook Report: US crude oil production is expected to be 13.21 million b/d in 2024, compared to the previous forecast of 13.19 million b
EIA expects the U.S. gasoline price to average about $3.20 per gallon and diesel to average about $3.60 per gallon in 2025. Other highlights from the November STEO include: Brent crude oil spot price:EIA expects theBrent crude oil spot priceto average about $76 per barrel in 2025. EIA ...