eia oil price forecast

Sign up for email subcriptions to receive messages about specific EIA products. Oil Price Fundamental Daily Forecast – Light Volume Caps Gains, but Supported by EIA Draw, Brexit Hopes. ... EIA forecast a … Financial market analysis and financial data for major energy companies. Forecast coal production rises to 624 MMst in 2021, a 20% increase from 2020 levels. U.S. Brent prices increased in November in part because of news about the viability of multiple COVID-19 vaccines, along with market expectations that the Organization of the Petroleum Exporting Countries (OPEC) and partner countries (OPEC+) would delay or limit production increases planned for January 2021. In 2021, the Brent spot price is expected to average $47.07 per barrel and the WTI spot price to average $44.72 per barrel. Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. The nuclear share of U.S. generation remains close to 20% through the forecast period. All Figures, Electricity, coal, renewables, and emissions, Provides custom data views of historical and forecast data Price trend by month. Subscribe to feeds for updates on EIA products including Today in Energy and What's New. EIA expects that total U.S. consumption of natural gas will average 83.4 billion cubic feet per day (Bcf/d) in 2020, down 2.0% from 2019. All Tables   |   The reason for the downward adjustment to price realizations is the deceleration in the degree of recovery in oil consumption amid a spike in infections. The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. Short, timely articles with graphics on energy, facts, issues, and trends. Electricity generation from renewable energy sources rises from 18% in 2019 to 20% in 2020 and to 21% in 2021. EIA now forecasts OPEC crude oil production will average 25.7 million b/d in the first quarter of 2021, which is 1.7 million b/d lower than forecast in the November STEO and reflects the announced changes to OPEC+ targets and more effective assumed compliance with targets. Energy & Financial Markets: What Drives Crude Oil Prices? “EIA forecasts Brent prices will average $47 per barrel in the first quarter of 2021 and rise to an average of $50 per barrel by the fourth quarter. "Oil and other financial markets reached all-time high levels of volatility in March," the EIA said. Looking ahead to 2021, the EIA reduced its price predictions in its latest forecast.   |   It expects 2021 prices to … On an annual average basis, EIA expects U.S. crude oil production to fall from 12.2 million b/d in 2019 to 11.3 million b/d in 2020 and 11.1 million b/d in 2021. Oil Price Fundamental Daily Forecast – Prices Hit 9-Month High on EIA Draw, Vaccine Rollout, Fiscal Stimulus The price action indicates investors are … EIA forecasts industrial consumption will average 22.5 Bcf/d in 2020 (down 0.5 Bcf/d from 2019) as a result of reduced manufacturing activity. Tools to customize searches, view specific data sets, study detailed documentation, and access time-series data. EIA expects the U.S. electric power sector will add 23.0 gigawatts (GW) of new wind capacity in 2020 and 9.5 GW of new capacity in 2021. Crude oil predictions and projections. Uranium fuel, nuclear reactors, generation, spent fuel. Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources. Energy-Related Carbon Dioxide Emissions, Energy-Related Carbon Dioxide Emissions at the State Level, 2005-2016, Energy-Related Carbon Dioxide Emissions at the State Level, through 2017, U.S. Oil and Natural Gas Wells by Production Rate, Monthly Crude Oil and Natural Gas Production ›, Midwest and Rocky Mountain Transportation Fuels Markets, East Coast and Gulf Coast Transportation Fuels Markets, Macroeconomics and Carbon Dioxide Emissions. The EIA cut its 2020 West Texas Intermediate crude price forecast to $38.76 a barrel, down 0.6% from the September forecast. International energy information, including overviews, rankings, data, and analyses. EIA estimates that inventories fell by 20 billion cubic feet (Bcf) in November, compared with a five-year average November withdrawal of 103 Bcf and a forecast withdrawal of 222 Bcf in last month's STEO. EIA forecasts that the WTI price will average US$43/bbl in the first half of 2021, up from our forecast of US$40/bbl during the second half of 2020. Sales, revenue and prices, power plants, fuel use, stocks, generation, trade, demand & emissions. Uranium fuel, nuclear reactors, generation, spent fuel. Maps, tools, and resources related to energy disruptions and infrastructure. State energy information, including overviews, rankings, data, and analyses.  |  EIA expects retail sales of electricity in the commercial sector to fall this year by 5.9% and by 8.8% in the industrial sector. Maps by energy source and topic, includes forecast maps. The price is in US Dollar per 1 oil barrell. EIA expects LNG demand to continue increasing. Oil price forecast for 2021, 2022, 2023 and 2024. Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. Forms EIA uses to collect energy data including descriptions, links to survey instructions, and additional information. The EIA, which delayed the report's release by a day to better assess the market, pegged its 2020 WTI oil price forecast at $38.19 a barrel, down 31% from its previous view. The U.S. Energy Information Administration (EIA) expects that Brent prices will average $49/b in 2021, up from an expected average of $43/b in the fourth quarter of 2020. The EIA cut its 2020 West Texas Intermediate crude price forecast to $38.24 a barrel, down 1.3% from the October forecast. In 2020, EIA expects U.S. residential electricity prices to average 13.1 cents per kilowatthour, which is 0.8% higher than the average electricity price in 2019. STEO Data browser › Forms EIA uses to collect energy data including descriptions, links to survey instructions, and additional information. Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids. The EIA expects the global benchmark price to fall to $33.04/bbl in 2020, down 23.7% from the prior forecast, before climbing to $45.62/bbl in 2021, down 17.6% from the prior forecast. Reports requested by congress or otherwise deemed important. Come test out some of the products still in development and let us know what you think! The new Brent price forecast, ... EIA said. Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports. Although EIA still expects prices to increase in the coming months because of rising space heating demand and rising U.S. liquefied natural gas (LNG) exports amid declining U.S. natural gas production, the lower January price forecast reflects higher forecast storage levels this winter compared with last month's forecast. International spot and forward LNG prices continued to increase in late November, supported by reduced global LNG supply because of outages at LNG export plants in several countries and reported congestion at the Panama Canal, which affected westbound U.S. LNG exports to Asia. Regional energy information including dashboards, maps, data, and analyses. Oil prices started strong this year at $64/b in January. The group will also assess the state of global oil markets and petroleum demand monthly, adjusting targets based on market conditions. Sign up for email subcriptions to receive messages about specific EIA products. Coal's forecast share of electricity generation falls from 24% in 2019 to 20% in 2020 and then returns to 24% in 2021. The U.S. Energy Information Administration (EIA) has raised its Brent and West Texas Intermediate (WTI) oil price forecasts for both 2020 and 2021, its latest short-term energy outlook (STEO) has revealed. EIA expects the share of U.S. electric power sector generation from natural gas will increase from 37% in 2019 to 39% this year. WASHINGTON - In the U.S. Energy Information Administration’s January Short-Term Energy Outlook, EIA forecasts that the Brent crude oil spot price will average $65 per barrel (b) in … Regional energy information including dashboards, maps, data, and analyses. Prices plummeted in the second quarter, with one day in April even closing at $9/b for Brent prices internationally and -$37/b for … The US crude oil production forecast reflects EIA’s expectations that annual global petroleum demand will not recover to pre-pandemic levels (101.5 million bpd in 2019) through at least 2021. Lesson plans, science fair experiments, field trips, teacher guide, and career corner. OPEC+ announced it will increase its production target by 0.5 million b/d in January 2021. Annual changes in regional residential electricity prices this year range from 0.4% lower in the South Atlantic region to 3.7% higher in the Pacific region. In 2020, EIA expects U.S. residential electricity prices to average 13.1 cents per kilowatthour, which is 0.8% higher than the average electricity price in 2019. Maps, tools, and resources related to energy disruptions and infrastructure. EIA estimates that the United States exported 9.4 Bcf/d of LNG in November—the most for any month on record. The higher expected first quarter prices reflect steeper expected global oil inventory draws as a result of the. EIA forecasts OPEC crude oil production will average 27.5 million barrels per day (b/d) in 2021, up from an estimated 25.6 million b/d in 2020. EIA forecasts that planned additions to wind and solar generating capacity in 2020 and 2021 will contribute to increasing electricity generation from those sources. EIA expects that U.S. crude oil production will decline to less than 11.0 million b/d in March 2021 mostly because of falling production in the Lower 48 states, where EIA expects declining production rates at existing wells will outpace production from newly drilled wells in the coming months. The increase reflects OPEC's announced potential increases to production targets and production increases in Libya. Text Only EIA expects Henry Hub spot prices to reach a monthly average of $3.10/MMBtu in January 2021, which is down from the forecast January average price of $3.42/MMBtu in last month's STEO. EIA expects Henry Hub spot prices to reach a monthly average of $3.10/MMBtu in January 2021, which is down from the forecast January average price of $3.42/MMBtu in last month's STEO. The EIA boosted its 2020 West Texas Intermediate crude price forecast to $38.96 a barrel, up 1.9% from the November forecast. Will decrease by 3.9 % in 2020, a 26 % decline from.! 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