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Jan 12, 2022 · In our January 2022 Short-Term Energy Outlook (STEO), we forecast that crude oil prices will fall from 2021 levels. In the fourth quarter of 2021, the price of Brent crude oil, the international pricing benchmark, averaged $79 per barrel (b). We forecast that the price of Brent will average $75/b in 2022 and $68/b in 2023.
- Today in Energy - U.S. Energy Information Administration (EIA)
January 12, 2022 EIA forecasts crude oil prices will fall in...
- EIA forecasts crude oil prices will decline during 2022 - U.S ...
In October, the price of Brent crude oil averaged $84/b, and...
- Today in Energy - U.S. Energy Information Administration (EIA)
Nov 18, 2021 · In October, the price of Brent crude oil averaged $84/b, and the price of WTI averaged $81/b, the highest nominal prices since October 2014. We expect that the price of Brent will fall from an average of $84/b in October 2021 to $66/b in December 2022 and the price of WTI will fall from an average of $81/b in October 2021 to $62/b in December 2022.
- Continuing Oil Inventory Builds
- Russia's Oil Production and Upcoming Product Import Ban
- Other Sources of Petroleum Supply Growth
- China's Efforts to Reopen
Our crude oil price forecast reflects our expectation that oil production will outpace consumption, leading to builds in oil inventories. We forecast world production and consumption of liquid fuels—mostly crude oil but also refinery volume gain, hydrocarbon gas liquids, biofuels, and other oils—to develop an estimate of changes in global oil inven...
Russia produced about 11% of the world's oil in 2022, and its ability to supply global petroleum markets is one of the largest sources of uncertainty in our forecast. The upcoming EU ban on seaborne imports of petroleum products from Russia on February 5 could be more disruptive than the EU ban on seaborne imports of crude oil from Russia implement...
U.S. oil production is the largest source of production growth in our forecast, but that growth remains uncertain because of relatively low capital investment from oil producers. Despite relatively low investment, we expect increases in drilling productivity and associated natural gas takeaway capacityfrom the Permian region will result in record a...
China's efforts to reduce the spread of COVID-19 in 2022 led to mobility restrictions, economic slowdown, and a decline in oil consumption. The pace and magnitude of China's efforts to reopen and loosen mobility restrictions present another considerable uncertainty for global oil markets. China's consumption could be less than we forecast at first ...
Oct 15, 2024 · 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.
- J.P. Morgan
Aug 15, 2022 · Aug. 15, 2022. When Russia invaded Ukraine last spring, energy experts were predicting that oil prices could reach $200 a barrel, a price that would send the costs of shipping and transportation ...
Jan 12, 2022 · Brent Crude prices, which averaged $79 a barrel in the fourth quarter of 2021, are set to average $75 per barrel during 2022 and $68 a barrel in 2023, the EIA said. The U.S. benchmark, WTI Crude ...
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Sep 30, 2022 · The poll forecast U.S. crude to average $95.73 a barrel in 2022 and $88.70 next year, versus the $99.91 and $92.48 consensus last month, but well above current price levels around $80. Sign up here.
