In its newest quick time period power outlook (STEO), which was launched on February 11, the U.S. Power Info Administration (EIA) projected that the West Texas Intermediate (WTI) spot value common will drop this 12 months and subsequent 12 months.
In response to its February STEO, the EIA sees the WTI spot value averaging $70.62 per barrel in 2025 and $62.46 per barrel in 2026. The WTI spot value averaged $76.60 per barrel in 2024, the STEO highlighted.
In its earlier STEO, which was launched in January, the EIA projected that the WTI spot value would common $70.31 per barrel in 2025 and $62.46 per barrel in 2026. That STEO additionally highlighted that the 2024 WTI spot value common was $76.60 per barrel.
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The EIA’s February STEO forecast that the WTI spot value will are available in at $73.62 per barrel within the first quarter of this 12 months, $71.00 per barrel within the second quarter, $70.00 per barrel within the third quarter, $68 per barrel within the fourth quarter, $64.97 per barrel within the first quarter of 2025, $63.33 per barrel within the second quarter, $61.68 per barrel within the third quarter, and $60.00 per barrel within the fourth quarter of 2026.
In its January STEO, the EIA projected that the WTI spot value would common $72.34 per barrel within the first quarter of 2025, $71.00 per barrel within the second quarter, $70.00 per barrel within the third quarter, $68 per barrel within the fourth quarter, $64.97 per barrel within the within the first quarter of 2026, $63.33 per barrel within the second quarter, $61.68 per barrel within the third quarter, and $60.00 per barrel within the fourth quarter.
A analysis word despatched to Rigzone by the JPM Commodities Analysis crew on February 14 confirmed that J.P. Morgan is forecasting that the WTI crude value will common $69 per barrel in 2025 and $57 per barrel in 2026.
J.P. Morgan expects the WTI crude value to common $70 per barrel within the first quarter of 2025, $73 per barrel within the second quarter, $69 per barrel within the third quarter, $65 per barrel within the fourth quarter, $60 per barrel within the first quarter of 2026, $59 per barrel within the second quarter, $55 per barrel within the third quarter, and $53 per barrel within the fourth quarter of 2026, the analysis word outlined.
A report despatched to Rigzone by Customary Chartered Financial institution Commodities Analysis Head Paul Horsnell on February 18 confirmed that Customary Chartered is projecting that the NYMEX WTI foundation close by future crude oil value will common $79 per barrel within the first quarter of 2025, $81 per barrel within the second quarter, $86 per barrel within the third quarter, $90 per barrel within the fourth quarter, $88 per barrel within the first quarter of 2026, and $90 per barrel within the second quarter of subsequent 12 months.
Customary Chartered projected in that report that the commodity will common $90 per barrel general in 2026.
In a BMI report despatched to Rigzone by the Fitch Group on February 14, BMI, a unit of Fitch Options, forecast that the entrance month WTI crude value will common $73 per barrel in 2025.
A Morningstar DBRS report despatched to Rigzone by the Morningstar crew on February 13 confirmed that the corporate’s base case forecasts that the WTI oil value will common $65 per barrel this 12 months and $60 per barrel subsequent 12 months. The corporate’s “low value/stress case” sees the commodity averaging $45 per barrel throughout this 12 months and subsequent 12 months, the report outlined.
In a Stratas Advisors report despatched to Rigzone by the Stratas crew on Monday, the corporate highlighted that “the value of WTI ended the week at $70.57 [per barrel] after closing the earlier week at $71.06 [per barrel]”.
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