In its newest quick time period power outlook (STEO), which was launched on October 7, the U.S. Power Data Administration (EIA) raised its common West Texas Intermediate (WTI) spot value forecasts for 2025 and 2026.
In keeping with its newest STEO, the EIA now sees the commodity averaging $65.00 per barrel this 12 months and $48.50 per barrel subsequent 12 months. In its earlier STEO, which was launched in September, the EIA projected that the WTI spot value would common $64.16 per barrel in 2025 and $47.77 per barrel in 2026.
A quarterly breakdown included within the EIA’s October STEO confirmed that the EIA sees the WTI spot value coming in at $58.05 per barrel within the fourth quarter of this 12 months, $47.97 per barrel within the first quarter of subsequent 12 months, $48.33 per barrel within the second quarter, $48.68 per barrel within the third quarter, and $49.00 per barrel within the fourth quarter of 2026.
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In its earlier September STEO, the EIA forecast that the commodity would common $65.14 per barrel within the third quarter, $55.41 per barrel within the fourth quarter, $45.97 per barrel within the first quarter of subsequent 12 months, $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.
The EIA’s October STEO confirmed that the WTI spot value averaged $65.79 per barrel within the third quarter of this 12 months. Each STEOs highlighted that the commodity averaged $71.85 per barrel within the first quarter of this 12 months, $64.63 per barrel within the second quarter of 2025, and $76.60 per barrel total in 2024.
In a J.P. Morgan report despatched to Rigzone on Friday by Natasha Kaneva, head of world commodities technique on the firm, J.P. Morgan projected that the WTI crude oil value will common $62 per barrel this 12 months and $53 per barrel subsequent 12 months. In that report, J.P. Morgan forecast that the commodity will are available in at $57 per barrel within the fourth quarter of 2025, $51 per barrel within the first quarter of subsequent 12 months, $53 per barrel throughout the second and third quarters of 2026, and $56 per barrel within the fourth quarter.
A report despatched to Rigzone by the Normal Chartered staff on Wednesday projected that the NYMEX WTI close by future crude oil value will common $58 per barrel in 2025 and $75 per barrel in 2026. This report forecast that the commodity will are available in at $62 per barrel within the fourth quarter of this 12 months, $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 of 2026.
A report despatched to Rigzone by the Morningstar staff on Monday confirmed that the corporate is anticipating the WTI oil value to common $65 per barrel in 2025 and $60 per barrel in 2026 underneath its base case. The corporate’s “low value/stress case” sees WTI averaging $63 per barrel this 12 months and $45 per barrel subsequent 12 months, the report highlighted.
“We’re growing our full-year 2025 WTI value forecast to $65 per barrel from $60 per barrel to replicate precise 12 months to this point costs,” Morningstar analysts mentioned within the report.
“There is no such thing as a change to our earlier full-year WTI value forecast of $60 per barrel for each 2026 and 2027, which displays our continued anticipation for a slowing world economic system to be a headwind for crude oil demand and pricing,” the analysts added.
In a BMI report despatched to Rigzone by the Fitch Group on October 3, BMI projected that the entrance month WTI crude value would common $65 per barrel in 2025 and $64 per barrel in 2024.
To contact the creator, e-mail andreas.exarheas@rigzone.com
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