2023-10-13 06:50:00
OIL PRICES 2023-24: $84 - $95
U.S. EIA - Oct. 11, 2023 - SHORT-TERM ENERGY OUTLOOK
Forecast overview
OPEC+ production. Beginning this month, our Short-Term Energy Outlook (STEO) OPEC crude oil production table will feature a new OPEC+ crude oil production forecast. The estimate includes combined crude oil production from the 10 members of OPEC subject to production targets (OPEC-10), as well as all non-OPEC crude oil production within the OPEC+ group. We expect OPEC+ members will decrease their crude oil production by 0.3 million barrels per day (b/d) in 2024 compared with this year.
Global oil markets. Global oil inventories in our forecast fall by 0.2 million b/d in the second half of 2023 (2H23) because a voluntary production cut from Saudi Arabia and reduced production targets among OPEC+ countries keep global oil production below global oil consumption. As a result, we expect upward pressure on crude oil prices, with the Brent spot price increasing to average $95 per barrel (b) in 2024.
-----
Earlier:
2023, October, 6, 07:00:00
OIL PRICE: BRENT ABOVE $84, WTI NEAR $83
Brent were up 36 cents, or 0.4%, at $84.43. WTI were up 42 cents, or 0.5%, at $82.73.
2023, October, 6, 06:55:00
ОПЕК+ БАЛАНСИРУЕТ РЫНОК
«Россия полностью выполнила условия сделки, она сократила добычу на 500 тыс. баррелей в сутки и на 300 тыс. баррелей в сутки – поставки на экспорт»,
2023, October, 6, 06:50:00
STRONG COHESION OF OPEC+
The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023.
2023, August, 25, 06:35:00
OIL PRICES 2023-24: $83 - $86
The Brent crude oil spot price averages $85 per barrel (b) in August. The Brent price averaging $86/b in the second half of 2023 (2H23).
2023, August, 11, 06:55:00
ОПЕК+: БОЛЕЕ 100%
Россия привержена договорённостям, которые достигнуты в рамках ОПЕК+. Мы исполняем свои обязательства в полном объёме. Добыча обеспечивается на уровне 9,5 млн баррелей нефти в сутки, что соответствует объёму добровольного сокращения в 500 тыс. баррелей в сутки.
2023, August, 11, 06:50:00
OPEC+: TO THE END OF 2024
The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023.
2023, July, 14, 06:55:00
OIL PRICES 2023-24: $80 - $84
The Brent crude oil spot price will average $80 per barrel (b) in 4Q23 and $84/b in 2024.
