In its newest brief time period power outlook (STEO), which was launched on December 9, the U.S. Vitality Info Administration (EIA) once more raised its West Texas Intermediate (WTI) value forecast for each 2025 and 2026.
In keeping with this STEO, the EIA now expects the WTI spot value to common $65.32 per barrel in 2025 and $51.42 per barrel in 2026. The EIA’s December STEO marks the newest in a line of STEOs with common WTI spot value forecast will increase for each 2025 and 2026.
In its earlier November STEO, the EIA projected that the WTI spot value would common $65.15 per barrel in 2025 and $51.26 per barrel in 2026. The EIA’s October STEO projected that the WTI spot value would common $65.00 per barrel this 12 months and $48.50 per barrel subsequent 12 months, and its September STEO forecast that the WTI spot value would common $64.16 per barrel in 2025 and $47.77 per barrel in 2026.
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Though the September STEO included a rise within the common WTI spot value forecast for 2025, in comparison with the earlier August STEO, the common WTI spot value forecast for 2026 was unchanged from the earlier STEO.
A quarterly breakdown included within the EIA’s December STEO projected that the WTI spot value will common $59.31 per barrel within the fourth quarter of 2025, $50.93 per barrel within the first quarter of 2026, $50.68 per barrel within the second quarter, and $52.00 per barrel throughout the third and fourth quarters of subsequent 12 months.
The WTI spot value averaged $71.85 per barrel within the first quarter, $64.63 per barrel within the second quarter, and $65.78 per barrel within the third quarter, the December STEO confirmed. It highlighted that the WTI spot value averaged $76.60 per barrel general in 2024.
In a J.P. Morgan report despatched to Rigzone by the JPM Commodities Analysis crew on December 12, J.P. Morgan projected that the WTI crude value will common $65 per barrel general in 2025 and $54 per barrel general in 2026.
J.P. Morgan forecasted on this report that the commodity will are available in at $60 per barrel within the fourth quarter of this 12 months, $56 per barrel within the first quarter of subsequent 12 months, $55 per barrel within the second quarter, $52 per barrel within the third quarter, and $51 per barrel within the fourth quarter of 2026.
In a report dated December 10, which was despatched to Rigzone just lately by the Commonplace Chartered crew, Commonplace Chartered projected that the NYMEX WTI foundation close by future crude oil value will common $65.40 per barrel in 2025 and $59.90 per barrel in 2026.
On this report, Commonplace Chartered forecasted that the commodity will are available in at $61.50 per barrel within the fourth quarter of this 12 months, $58.50 per barrel within the first quarter of subsequent 12 months, $59.50 per barrel within the second quarter, $60.50 per barrel within the third quarter of 2026, and $61.00 per barrel within the fourth quarter.
Macquarie projected, in a report despatched to Rigzone by the Macquarie crew on December 5, that the WTI value will common $64.89 per barrel general in 2025 and $57.25 per barrel general in 2026.
In keeping with that report, Macquarie expects the WTI value to common $59.50 per barrel within the fourth quarter of this 12 months, $53.50 per barrel within the first quarter of 2026, $55.50 per barrel within the second quarter, $56.50 per barrel within the third quarter, and $63.50 per barrel within the fourth quarter.
In a BMI report despatched to Rigzone by the Fitch Group on December 5, BMI, a unit of Fitch Options, projected that the entrance month WTI crude value will common $65.50 per barrel in 2025 and $64.00 per barrel in 2026.
To contact the writer, e mail andreas.exarheas@rigzone.com
