SHORT-TERM ENERGY OUTLOOK

Brent crude oil spot prices averaged $64 per barrel (b) in February, up $5/b from January 2019 and about $1/b lower than at the same time last year. EIA forecasts Brent spot prices will average $63/b in 2019 and $62/b in 2020, compared with an average of $71/b in 2018. EIA expects that West Texas Intermediate (WTI) crude oil prices will average $9/b lower than Brent prices in the first half of 2019 before the discount gradually falls to $4/b in the fourth quarter of 2019 and throughout 2020.

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Energy
Crude Oil
Oil
Oil Transportation
Producing Outlook
RtChex
Clearinghouse

U.S. crude oil production surpassed 12 million barrels per day in April

EIA’s new liquids pipeline projects database shows new U.S. crude oil pipeline capacity

U.S. natural gas plant liquid production continues to hit record highs

The United States is now the largest global crude oil producer

EIA forecasts mostly flat crude oil prices and increasing global production through 2019

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U.S. oil and natural gas production to fall in 2021, then rise in 2022

EIA expects higher wholesale U.S. natural gas prices in 2021 and 2022

EIA increases 2021 oil price forecasts on restrained OPEC+ production

U.S. petroleum refining capacity falls to its lowest level since May 2016

API: July US petroleum demand up 3.8% month-on-month

API: US petroleum demand recovered 14% between April and May

Motor gasoline accounted for almost half of U.S. petroleum consumption in 2019

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