The U.S. Vitality Info Administration (EIA) minimize its West Texas Intermediate (WTI) common spot crude oil value forecast in its newest quick time period power outlook (STEO), which was launched on August 12.
In line with this STEO, the EIA sees the WTI spot value averaging $63.58 per barrel in 2025 and $47.77 per barrel in 2026. In its earlier STEO, which was launched in July, the EIA projected that the WTI spot value would common $65.22 per barrel this yr and $54.82 per barrel in 2026.
Each STEOs highlighted that the WTI spot value averaged $76.60 per barrel in 2024.
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A quarterly breakdown included within the EIA’s August STEO confirmed that the group expects the WTI spot value to return in at $64.20 per barrel within the third quarter of 2025, $54.05 per barrel within the fourth quarter, $45.97 per barrel within the first quarter of subsequent yr, $46.33 per barrel within the second quarter, $48.68 per barrel within the third quarter, and $50.00 per barrel within the fourth quarter.
In its earlier July STEO, the EIA projected that the WTI spot value would common $64.69 per barrel within the third quarter of 2025, $60.02 per barrel within the fourth quarter, $56.00 per barrel within the first quarter of subsequent yr, $55.67 per barrel within the second quarter, $54.68 per barrel within the third quarter, and $53.00 per barrel within the fourth quarter.
The EIA’s August STEO highlighted that the WTI spot value got here in at $71.85 per barrel within the first quarter and $64.63 per barrel within the second quarter. The EIA’s July STEO additionally highlighted that the WTI spot value averaged $71.85 per barrel within the first quarter. It projected that the second quarter WTI spot value would common $64.69 per barrel.
A report despatched to Rigzone by the Commonplace Chartered crew late Tuesday confirmed that Commonplace Chartered was forecasting that the NYMEX WTI foundation close by future crude oil value would common $58 per barrel in 2025 and $75 per barrel in 2026.
In that report, Commonplace Chartered noticed the commodity averaging $62 per barrel within the fourth quarter of this yr, $68 per barrel within the first quarter of 2026, $73 per barrel within the second quarter, $78 per barrel within the third quarter, and $80 per barrel within the fourth quarter.
In a report despatched to Rigzone by the Commonplace Chartered crew on July 8, the corporate had an identical forecasts for the NYMEX WTI foundation close by future crude oil value.
A J.P. Morgan analysis observe despatched to Rigzone by the JPM Commodities Analysis crew on August 11 confirmed that J.P. Morgan anticipated the WTI crude value to common $63 per barrel this yr and $54 per barrel subsequent yr.
In that analysis observe, J.P. Morgan projected that the WTI crude value would are available at $59 per barrel within the third quarter of 2025, $57 per barrel within the fourth quarter, $51 per barrel within the first quarter of subsequent yr, $53 per barrel throughout the second and third quarters of 2026, and $56 per barrel within the fourth quarter of subsequent yr.
A J.P. Morgan analysis observe despatched to Rigzone by the JPM Commodities Analysis crew on July 14 had an identical forecasts for the WTI crude value.
In a BMI report despatched to Rigzone by the Fitch Group on August 8, BMI projected that the entrance month WTI crude value would common $65 per barrel in 2025 and $64 per barrel in 2026. A BMI report despatched to Rigzone by the Fitch Group on July 11 had an identical forecasts for the entrance month WTI crude value.
To contact the creator, electronic mail andreas.exarheas@rigzone.com
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