BOE Report Barclays cut its 2023 oil price forecasts on Wednesday, due in part to more resilient output from Russia than expected, and said the market could flip into a deficit in the second half of the year due to growing demand in China. The bank cut its average forecasts for the Brent and West Texas Intermediate (WTI) benchmarks
Reuters Russia forecasts its average export gas price will more than double this year to $730 per 1,000 cubic meters before gradually falling until the end of 2025, as pipeline gas exports decrease, an economy ministry forecast seen by Reuters showed. Gas flows from Russia, Europe’s top supplier, are running at reduced levels this year after one route was
Nasdaq March 2 – Publicly traded U.S. shale firms are not budging on production restraint vows as oil markets surge amid Russia’s invasion of Ukraine, leaving smaller producers to lead output gains during the highest prices in seven years. Oil futures on Tuesday traded up as much as 10% to $107 per barrel, the most since July 2014, as Moscow’s
Nasdaq Jan 3 – U.S. natural gas futures started the new year down over 2% on Monday on forecasts for less demand next week than previously expected and a drop in global gas prices from record highs. In the last quarter of 2021, U.S. gas futures have followed the rise and fall of global prices about two-thirds of the time
World Oil LONDON (Bloomberg) –Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls in the latest round of estimates. The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting
EIA In the October 2020 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecasts that residential natural gas consumption for the 2020–21 winter season (October–March) will average 21.1 billion cubic feet per day (Bcf/d), 5% more than last winter. EIA expects more residential natural gas consumption because of forecasts for colder temperatures this winter and changes in consumer behavior. Based
EIA Consumption of U.S. liquid fuels fell in March and April 2020 as a result of reduced travel related to COVID-19 and its mitigation measures. The U.S. Energy Information Administration’s (EIA) July Short-Term Energy Outlook (STEO) forecasts that U.S. consumption of total petroleum and other liquid fuels will continue increasing in the second half of 2020 as economic activity increases, but levels
EIA Oil and Gas Publishers Note: While the EIA is looking at prices in the $2.95 range, we have been talking to many experts in the oil and gas space and they look for higher numbers. It is always to get all of the data you can when looking at futures. The 360 Digital Closing Bell team are looking above
Houston Chronicle Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus outbreak. Travel bans, work-from-home, canceled vacations and disrupted supply chains all mean reduced demand for fuel. As societies respond to the virus, oil demand — already hammered by China’s decision to shut down swathes
EIA A supplemental report to the U.S. Energy Information Administration’s (EIA) Annual Energy Outlook 2020 (AEO2020) describes two simple measures of cost and value that, when used together, largely explain the economic competitiveness of electricity generating technologies and, in turn, the types of power plants most likely to be built in EIA’s long-term model for the U.S. energy sector. Cost: The levelized cost of
EIA In the U.S. Energy Information Administration’s (EIA) February Short-Term Energy Outlook (STEO), EIA forecasts that the Lower 48 states’ working natural gas in storage will end the 2019–20 winter heating season (November 1–March 31) at 1,935 billion cubic feet (Bcf), with 12% more inventory than the previous five-year average. This increase is the result of mild winter temperatures and continuing strong
What the new OPEC with Russia and without Qatar means for energy prices: Cebr Britain’s Centre for Economics and Business Research (Cebr) has revised its oil price forecast based on higher demand for oil and natural gas from non-OECD countries. The Cebr put out a note Monday reflecting the revisions in conjunction with last week’s OPEC/non-OPEC production cut agreement. From
