According to the STEO, the EIA sees the Brent spot average coming in at $83.63 per barrel in 2023 and $77.57 per barrel in 2024. In its previous STEO, which was released in January, the EIA projected that the Brent spot price would average $83.10 per barrel in 2023 and $77.57 per ba...
The EIA now forecasts Brent crude oil spot prices to average about $85/bbl in 2023, up over $2/bbl from last month’s forecast. WTI crude prices are expected to average $79.24/bbl this year, up from March’s forecast of $77.10/bbl. “The higher price forecast reflects a forecast...
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 tha...
The benchmark West Texas Intermediate (WTI) crude oil average spot price dropped from US$58/bbl in January 2020 to US$29/bbl in March and US$17/bbl in April. This sharp decline in the oil price is already having a significant effect on drilling activity in the US. The num...
EIA said these ups and downs reflect the recent upward price movement and the possibility that crude oil prices could remain elevated while market participants assess the effects of the sanctions. EIA also forecast West Texas Intermediate (WTI) prices to increase at a slightly slower rate, leading...
I could see a severe price reaction since WTI is now firmly above $50, and the overwhelming sentiment/fear is that frackers will all instantly completing thousands of wells at that price. It would be an incorrect conclusion, but the timing between $50 WTI and revisions that show increased ...
The April 2021 STEO is projecting a WTI price of $62.50/bbl in May 2021 before beginning to fall back to $56.50/b in October, a $2.00 increase over the previous March report. The April report projects slightly better prices going forward than the March report. The June WTI contract settle...
Europe Brent Spot Price FOB (Dollars per Barrel)- From 20 May 1987 till today Cushing, OK WTI Spot Price FOB (Dollars per Barrel)- From 01 February 1986 till today Definitions Brent A blended crude stream produced in the North Sea region which serves as a reference or "marker" for prici...
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...
Cushing, OK WTI Spot Price FOB (Dollars per Barrel) - From 01 February 1986 till today Definitions Brent A blended crude stream produced in the North Sea region which serves as a reference or "marker" for pricing a number of other crude streams. source West Texas Intermediate (WTI - Cushin...