ExTraders GlobalOct 8, 2024

#EnergyOutlook:

#Brent crude forecast cut to $78/b for 2025 amid slowing global demand, while propane prices are set to drop 15% and diesel down 5%. #NaturalGas prices expected to rise to $3.10/MMBtu due to increased #LNG exports. U.S. #Electricity demand grew 3% in 2024 from higher summer temps, with more growth expected in 2025.

#Energy #Oil #Gas #STEO #EIA

ExTraders GlobalDec 12, 2023
#US #EIA #STEO Report:
#Brent crude #oil spot #price will average $84/bbl in the first half of 2024, up from $78/bbl in December, partly due to #OPEC+ cuts.
ExTraders GlobalDec 12, 2023
#US #EIA #STEO Report:
Total US #oil consumption will increase by 100,000 #barrels to 20.1 million barrels/day in 2023, unchanged from the previous forecast. Total US oil consumption is expected to increase by 300,000 barrels to 20.4 million barrels/day in 2024, (unchanged)
ExTraders GlobalDec 12, 2023
#US #EIA #STEO Report:
US #crude #oil production will increase by 1.02 million barrels to 12.93 million barrels/day in 2023, compared with a previously forecast increase of 990,000 barrels/day. 2024 US #NGAS consumption at 89.62 bcfd, above its November forecast of 89.00 bcfd.
ExTraders GlobalDec 12, 2023
#US #EIA #STEO Report:
2023 world #oil demand growth forecast lowered by 30,000 barrels/day, now sees an annual increase of 1.85 million barrels/day. 2024 world oil #demand growth forecast lowered by 60,000 barrels/day, now sees an annual increase of 1.34 million #barrels.
ExTraders GlobalDec 12, 2023
#US #EIA #STEO Report:
2023 #Crude #Oil production is estimated at 12.93 million b/d against 12.9 million b/d. Production is expected to increase at an average annual rate of 180,000 b/d in 2024, compared to the previous forecast of 250,000 b/d.
ExTraders GlobalDec 12, 2023
#US #EIA #STEO Report:
In 2024, US #crude #oil production is expected to be 13.11 million b/d, compared to 13.15 million b/d projected in November.