US EIA forecasts lower oil prices in 2025, expects production to outpace demand
January 10, 2024 Comments Off
The US Energy Information Administration Jan. 9 lowered its 2024 crude price forecasts by 8 cents/b to $77.99/b for WTI and $82.49/b for Brent, and the agency expects prices to fall further in 2025 as production grows faster than demand. In its January Short-Term Energy Outlook, the EIA forecast WTI would average $74.98/b and Brent would average $79.48/b in 2025….
US EIA forecasts lower oil prices in 2025, expects production to outpace demand
The US Energy Information Administration Jan. 9 lowered its 2024 crude price forecasts by 8 cents/b to $77.99/b for WTI and $82.49/b for Brent, and the agency expects prices to fall further in 2025 as production grows faster than demand. In its January Short-Term Energy Outlook, the EIA forecast WTI would average $74.98/b and Brent would average $79.48/b in 2025….
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