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$82.80 per barrel
- In its previous STEO, which was released in September, the EIA projected that the Brent spot price would average $82.80 per barrel in 2024 and $84.09 per barrel in 2025.
www.rigzone.com/news/usa_eia_reveals_latest_brent_oil_price_forecast_for_2024_and_2025-11-oct-2024-178397-article/USA EIA Reveals Latest Brent Oil Price Forecast for 2024 and ...
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2 days ago · Brent crude futures rallied $8/bbl in early October, with markets on tenterhooks about Israel’s response to Iran’s missile attack. The unwinding of ultra-bearish investor exchange positioning contributed to the price rebound. Prices had slumped to multi-year lows in September, driven by the prospect of an amply supplied market in 2025.
2 days ago · In addition, global oil inventories are much lower today, currently standing at 4.4 billion barrels — the lowest on record since January 2017. Overall, J.P. Morgan Commodities Research forecasts Brent could average $80/bbl in the fourth quarter of 2024 and $75/bbl in 2025, declining to the low $60s by end-2025.
Jan 10, 2024 · We expect the Brent crude oil price will average $82 per barrel (b) in 2024 and $79/b in 2025, compared with its 2023 average of $82/b. We expect that the price of West Texas Intermediate (WTI) will be slightly lower but generally follow the same path.
Dec 4, 2023 · EIA outlook suggests oil could rise substantially from current lows. The EIA also predicts that the Brent crude oil price, a global benchmark for oil prices, will increase from an average $90 per barrel in 2023 to an estimated $93 per barrel in 2024.
We reduced our forecast for the Brent crude oil spot price through the end of next year. In this month’s outlook, we expect the Brent price will average $78 per barrel (b) in 2025, $7/b less than we expected in last month’s STEO.
Mar 14, 2024 · World oil demand growth is now forecast at 1.3 mb/d in 2024, down sharply from last year’s 2.3 mb/d expansion. The slowdown in growth, already apparent in recent data, means that oil consumption reverts towards its historical trend after several years of volatility from the post-pandemic rebound.
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