In its newest quick time period power outlook (STEO), which was launched on April 10, the U.S. Power Data Administration (EIA) lower its West Texas Intermediate (WTI) oil value forecast for 2025 and 2026.
The EIA now sees the WTI spot value averaging $63.88 per barrel in 2025 and $57.48 per barrel in 2026, based on the STEO. In its earlier STEO, which was launched final month, the EIA projected that the WTI spot value would are available in at $70.68 per barrel this 12 months and $64.97 per barrel subsequent 12 months.
The EIA forecast in its April STEO that the WTI spot value will common $62.33 per barrel within the second quarter of 2025, $61.67 per barrel within the third quarter, $60 per barrel within the fourth quarter, $59 per barrel within the first quarter of subsequent 12 months, $58 per barrel within the second quarter, $57 per barrel within the third quarter, and $56 per barrel within the fourth quarter.
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In its earlier STEO, the EIA projected that the WTI spot value would common $70.50 per barrel within the second quarter of this 12 months, $71.50 per barrel within the third quarter, $69.52 per barrel within the fourth quarter, $67.50 per barrel within the first quarter of 2026, $65.50 per barrel within the second quarter, $64.50 per barrel within the third quarter, and $62.50 per barrel within the fourth quarter of subsequent 12 months.
In its newest STEO, the EIA highlighted that the WTI spot value averaged $71.85 per barrel within the first quarter of this 12 months and $76.60 per barrel total in 2024. In its earlier STEO, the EIA projected that the WTI spot value would common $71.25 per barrel within the first quarter of 2025. That STEO additionally highlighted that the WTI spot value averaged $76.60 per barrel final 12 months.
A analysis observe despatched to Rigzone by Natasha Kaneva, Head of World Commodities Technique at J.P. Morgan, on April 14 confirmed that J.P. Morgan expects the common WTI value to come back in at $62 per barrel in 2025 and $53 per barrel in 2026.
J.P. Morgan sees the commodity averaging $63 per barrel within the second quarter of this 12 months, $59 per barrel within the third quarter, $57 per barrel within the fourth quarter, $51 per barrel within the first quarter of 2026, $53 per barrel throughout the second and third quarters of subsequent 12 months, and $56 per barrel within the fourth quarter, based on the report.
A report despatched to Rigzone by the Goldman Sachs workforce on Monday outlined that Goldman Sachs expects the WTI spot value to common $63 per barrel in 2025 and $55 per barrel subsequent 12 months. The report additionally confirmed that the corporate expects the WTI Futures value to common $60 per barrel in 2025 and $59 per barrel in 2026.
A BMI report despatched to Rigzone by the Fitch Group on April 11 confirmed that BMI anticipated the entrance month WTI crude value to common $73 per barrel in 2025 and $72 per barrel in 2026.
A Commonplace Chartered Financial institution report despatched to Rigzone by Commonplace Chartered Financial institution Commodities Analysis Head Paul Horsnell on April 8 confirmed that Commonplace Chartered anticipated the NYMEX WTI foundation close by future crude oil value to common $75 per barrel in 2025 and $82 per barrel in 2026.
Commonplace Chartered Financial institution noticed the commodity averaging $70 per barrel within the second quarter of this 12 months, $74 per barrel within the third quarter, $79 per barrel within the fourth quarter, $82 per barrel within the first quarter of subsequent 12 months, $80 per barrel within the second quarter, and $81 per barrel within the third quarter, based on the report.
To contact the creator, electronic mail andreas.exarheas@rigzone.com
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