The U.S. Vitality Data Administration (EIA) lowered its West Texas Intermediate (WTI) spot common value forecasts for 2025 and 2026 in its newest brief time period vitality outlook (STEO), which was launched on Might 6.
In accordance with that STEO, the EIA now sees the WTI spot value averaging $61.81 per barrel this yr and $55.24 per barrel subsequent yr. In its earlier STEO, which was launched in April, the EIA projected that the WTI spot value would common $63.88 per barrel in 2025 and $57.48 per barrel in 2026. Each STEOs highlighted that the WTI spot value got here in at $76.60 per barrel in 2024.
The EIA’s newest STEO forecast that the WTI spot value will common $60.85 per barrel within the second quarter of 2025, $58 per barrel within the third quarter, $57 per barrel within the fourth quarter, $56 per barrel throughout the primary and second quarters of subsequent yr, $55 per barrel within the third quarter, and $54 per barrel within the fourth quarter of 2026. This STEO identified that the WTI spot value averaged $71.85 per barrel within the first quarter of 2025.
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In its April STEO, the EIA projected that the WTI spot value would are available at $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 2026, $58 per barrel within the second quarter, $57 per barrel within the third quarter, and $56 per barrel within the fourth quarter. This STEO additionally highlighted that the WTI spot value averaged $71.85 per barrel within the first quarter of 2025.
Again in its March STEO, the EIA forecast that the WTI spot value common would are available at $70.68 per barrel in 2025 and $64.97 per barrel in 2026. That STEO additionally highlighted that the 2024 WTI spot value averaged $76.60 per barrel.
In a Customary Chartered Financial institution report despatched to Rigzone by the corporate’s commodities analysis head, Paul Horsnell, late Tuesday, Customary Chartered forecast that the NYMEX WTI foundation close by future crude oil value will common $58 per barrel in 2025, $75 per barrel in 2026, and $80 per barrel in 2027.
That report confirmed that Customary Chartered sees the commodity coming in at $50 per barrel within the second quarter of this yr, $49 per barrel within the third quarter, $62 per barrel within the fourth quarter, $68 per barrel within the first quarter of 2026, $73 per barrel within the second quarter, and $78 per barrel within the third quarter.
A analysis notice despatched to Rigzone by the JPM Commodities Analysis staff on Might 3 confirmed that J.P. Morgan anticipated the WTI crude value to common $62 per barrel in 2025 and $54 per barrel in 2026.
In that analysis notice, J.P. Morgan projected that the commodity will common $63 per barrel within the second quarter of this yr, $59 per barrel within the third quarter, $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.
In a BMI report despatched to Rigzone by the Fitch Group on Friday, BMI projected that the entrance month WTI crude value will common $65 per barrel in 2025 and $68 per barrel in 2026.
In a Stratas Advisors report despatched to Rigzone by the Stratas staff late Monday, the corporate highlighted that “the worth of WTI ended the [previous] week at $58.29 [per barrel] after closing the earlier week at $63.02 [per barrel].
To contact the creator, electronic mail andreas.exarheas@rigzone.com
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