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      • We forecast average annual crude oil prices in 2024 and 2025 will remain near their 2023 average because we expect that global supply and demand for petroleum liquids will be relatively balanced over the next two years.
      www.eia.gov/todayinenergy/detail.php?id=61222

      EIA expects relatively flat crude oil prices in 2024 and 2025

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  3. cleantechnica.com › 2024/01/10 › u-s-eia-expectsU.S. EIA Expects Relatively Flat Crude Oil Prices in 2024 ...

    Jan 10, 2024 · We forecast average annual crude oil prices in 2024 and 2025 will remain near their 2023 average because we expect that global supply and demand for petroleum liquids will be...

  4. www.techopedia.com › investing › oil-price-forecastOil Price Forecast and Trends for 2024, 2025 and 2030 ...

    3 days ago · Slowing economic growth, with looming recession due to central banks’ aggressive interest rate hikes to tame decades-high inflation, has capped oil prices. In 2023, crude oil prices dropped by more than 10%, essentially erasing their previous gains. As 2024 progressed, oil prices faced another year of volatility.

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  6. www.ig.com › en › news-and-trade-ideasOutlook 2023: Oil price forecasts | IG International

    Dec 14, 2022 · JP Morgan Chase & Co. forecast brent crude oil to average around the $90/barrel level in 2023 (as of the 30th of November 2022). Goldman Sachs economists have suggested (8 November 2022) that if China ends its lockdown policy, oil could race to $125/barrel.

  7. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Crude oil imports rose slightly in 2023, for ...

    Jun 12, 2024 · The total cost of imported crude oil was $19.5 billion in 2023, 9% lower than 2022. This decrease is primarily because global crude oil prices gradually declined throughout late 2022 and up to mid-2023, after Russia’s invasion of Ukraine elevated oil prices for most of 2022.

  8. www.eia.gov › todayinenergy › detailEIA expects relatively flat crude oil prices in 2024 and 2025

    Jan 10, 2024 · We forecast average annual crude oil prices in 2024 and 2025 will remain near their 2023 average because we expect that global supply and demand for petroleum liquids will be relatively balanced over the next two years.

  9. www.mckinsey.com › industries › oil-and-gasGlobal Energy Perspective 2023: Oil outlook | McKinsey

    Jan 24, 2024 · At the beginning of the COVID-19 pandemic, lowered demand caused oil prices to decline, even to below zero, and prices remained below $50 per barrel for most of 2020. 2 Since then, in line with the post-COVID socio-economic recovery, oil prices have climbed significantly, hovering around $80 per barrel for the majority of 2023.

  10. www.iea.org › reports › oil-2023Executive summary – Oil 2023 – Analysis - IEA

    Benchmark crude oil prices are back below pre-war levels and refined product cracks have now come off all-time highs after rising supplies coincided with a marked slowdown in oil demand growth in advanced economies.