EIA STEO: US crude oil production to rise by 260k BPD to 13.19mln BPD in 2024 (vs. previously forecasted rise of 170k); US crude oil production is expected to rise by 460k BPD to 13.65mln in 2025 (prev. rise of 390k BPD)
- Forecasts 2024 US dry natural gas production at 103.35 BCFD (prev. 104.37 BCFD in Feb.).
- Forecasts 2024 US natural gas consumption at 89.68 BCFD (prev. 90.64 BCFD).
- Forecasts 2025 US dry natural gas production at 104.43 BCFD (prev. 106.46 BCFD).
- Forecasts 2025 US natural gas consumption at 89.21 BCFD (prev. 89.55 BCFD).
- US total petroleum consumption to rise by 200k BPD to 20.4mln BPD in 2024 (unch.).
- US total petroleum consumption to rise by 200k BPD to 20.6mln BPD in 2025 (prev. rise of 100k BPD).
- World oil demand growth forecast raised by 10k to a 1.43mln BPD Y/Y increase for 2024.
- World oil demand growth forecast raised by 90k BPD to a 1.38mln BPD Y/Y increase.
- Raises 2024 WTI crude spot price to USD 82.15/bbl (prev. 77.68/bbl). 2025 raised to USD 80.30 from 74.98/bbl
- Raises 2024 spot Brent oil forecast to USD 87.00/bbl (prev. 82.42/bbl). 2025 raised to USD 84.40 from 79.48/bbl.
via EIA STEO
12 Mar 2024 - 17:23- Energy- Source: Newswires
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