Oil prices will not average more than $80 per barrel in the second half of this year, despite the most recent production cut announced by Saudi Arabia, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook (STEO) released this week.
Crude oil prices moved higher moments before the Energy Information Administration reported an inventory build of 4.5 million barrels for the week to May 26.
Crude oil prices jumped higher today after the U.S. Energy Information Administration estimated inventories in the country had shed 12.5 million barrels in the week to May 19.
Crude oil prices fell further today after the Energy Information Administration reported an inventory build of 3 million barrels for the week to May 5.
The Energy Information Administration (EIA) is an independent agency within the U.S. Department of Energy that provides data and analysis on energy production, consumption, and prices.
Crude oil prices fell today after the U.S. Energy Information Administration reported an inventory build of 16.3 million barrels for the week to February 10.
Crude oil prices inched lower today, after the U.S. Energy Information Administration reported a crude oil inventory build of 4.1 million barrels for the week to January 27.
Crude oil prices saw a minor increase today when the U.S. Energy Information Administration reported an oil inventory build of 500,000 barrels for the week to January 20
Continued increases in U.S. dry natural gas production are expected to outpace domestic demand and exports this year and in 2024 according to the EIA.
Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18.