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...
Domestic production will briefly return 13.3 million bpd in February but then decline through the middle of the year, according to the EIA. The U.S. will not exceed the production record of 13.3 million bpd until February 2025. U.S. crude production has weighed on oil prices for months as...
The US Energy Information Administration May 7 lowered its 2024 oil price outlook by more than 70 cents, as it expects production restraint to lead to a relatively balanced oil market in the second half of the year. In its May Short-Term Energy Outlook, the EIA decreased its 2024 forecast ...
Meanwhile, EIA expected West Texas Intermediate (WTI) crude oil price will average 8 dollars per barrel lower than Brent price in the first quarter of 2019 before the discount gradually falls to 4 dollars per barrel in the fourth quarter of 2019 and throughout 2020. EIA also forecast U.S. ...
Crude oil price analysis and research that covers crude oil futures and oil price forecasts. We also look at events that cause oil price movements.
"The meltdown in Libyan crude oil production, the increasing threat of a wider war in the Middle East, and EIA crude oil storage at an eight month low, are all serving as tailwinds for crude oil," Bob Yawger, executive director of energy futures at Mizuho Securities, wrote in an a...
WTI Falls Below $75, Off The Back Of EIA Data And Dollar Strength - WTI Crude Oil 1/8/25 Walsh TradingWed Jan 8, 4:29PM CST The February WTI (CLG25 ) trading session settled at 73.32 (-0.93) [-1.25%] , a high of 75.29, a low of 73.16. Cash price is at 74.29 (+0.69), ...
In a monthly report, EIA lowered its crude oil output prediction for 2018 and 2019. It also raised its price forecasts for WTI and Brent. In the same report, it also mentioned that Iranian crude oil production in August went down by 200,000 barrels per day from July. ...
However, WTI crude oil price in 2013 was only 4% higher than that in 2012; in contrast, Brent crude oil price decreased by 3% (source: U.S. Energy Information Administration (EIA), http://www.eia.gov; we can also see this trend from Figure 5). Similarly, since 2008, China’s ...
WTI Crude Oil Spot Price is the price for immediate delivery of West Texas Intermediate grade oil, also known as Texas light sweet. It, along with Brent Spot Price, is one of the major benchmarks used in pricing oil. WTI in particular is useful for pricing any oil produce in the Americ...