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According to Washington Platts Energy News on May 8, the US Energy Information Administration expects Brent crude to remain above $70 per barrel for the rest of the year, falling to $65 per barrel by the end of 2019, due to increasing transportation and export restrictions in the United States, WTI crude oil prices will fall by an average of $5 / barrel
in two years.
The EIA said in its short-term energy outlook report in May that it expects Brent crude to average $70.
68 per barrel by 2018, more than $7 higher than last month's forecast, while WTI averaged $65.
58 this year, up more than $6 from the previous month
.
EIA expects Brent crude prices to fall to $65.
98 per barrel in 2019, while WTI will fall to $60.
86 per barrel
next year.
Given the constraints on oil production in the U.
S.
Gulf Coast, EIA raised its 2018 average production forecast to 10.
72 million barrels per day from 30,000 barrels per day reported last month, while raising its 2019 forecast to 11.
8 million barrels
per day from 420,000 barrels last month.
12Next View full article
According to Washington Platts Energy News on May 8, the US Energy Information Administration expects Brent crude to remain above $70 per barrel for the rest of the year, falling to $65 per barrel by the end of 2019, due to increasing transportation and export restrictions in the United States, WTI crude oil prices will fall by an average of $5 / barrel
in two years.
The EIA said in its short-term energy outlook report in May that it expects Brent crude to average $70.
68 per barrel by 2018, more than $7 higher than last month's forecast, while WTI averaged $65.
58 this year, up more than $6 from the previous month
.
EIA expects Brent crude prices to fall to $65.
98 per barrel in 2019, while WTI will fall to $60.
86 per barrel
next year.
Given the constraints on oil production in the U.
S.
Gulf Coast, EIA raised its 2018 average production forecast to 10.
72 million barrels per day from 30,000 barrels per day reported last month, while raising its 2019 forecast to 11.
8 million barrels
per day from 420,000 barrels last month.
12Next View full article
12Next View full article