“Perceptions of a less severe recession and some improving macroeconomic conditions also likely contributed to rising crude oil prices over the past month,” the STEO added.
“However, we expect Russia’s oil production will continue to decline in 2023, largely because a number of countries will decrease their imports of crude oil and petroleum products from Russia.” Natural Gas Natural gas spot prices at Henry Hub likely will exceed $6.00 an MMBtu in the ...
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 ...
Oil gets OPEC bounce OPEC and its allies surprised markets by announcingplans to cut oil production by another 1.2 million barrels per day(MMbbl/d) on April 2, pushing global crude prices higher. The EIA now forecasts Brent crude oil spot prices to average about $85/bbl in 2023, up ...
EIA: High Distillate Fuel Oil Inventories in Central Atlantic Weighing on Distillate Spot PriceGeorge, Rebecca
Furthermore, the degree to which other oil producers respond to current oil prices, as well as the effects macroeconomic developments might have on global oil demand, will be important for oil price formation in the coming months, the report added. ...
U.S. natural gas inventories were above their rolling five-year averages for all of 2023 and 2024, driving down natural gas spot prices in both years and contributing to multiple monthlyrecord lowsset in 2024. Because we expect demand to exceed supply over the next two years, the na...
Still, spot prices of Brent and WTI have risen since their April 2020 lows to above pre-pandemic levels for most of 2021. In October, the price of Brent crude oil averaged $84/bbl, and the price of WTI averaged $81/bbl, the highest nominal prices since October 2014. “We forecast ...
Brent crude oil spot prices averaged$40 per barrel (b) in October, down $1/b from the average in September. Brentprices fell in October as previously disrupted crude oil production in Libyacame back online and as COVID-19 cases began increasing in many countries,which could reduce oil ...
HOUSTON, Feb. 11 (Xinhua) -- The U.S. Energy Information Administration (EIA) on Tuesday forecast Brent crude oil spot prices would average 61 U.S. dollars per barrel in 2020, compared with 65 dollars per barrel projected a month ago. ...