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Eia

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Hormuz Crisis Recharts Oil Outlook as EIA Hikes Forecast
world1 month ago

Hormuz Crisis Recharts Oil Outlook as EIA Hikes Forecast

The U.S. EIA sharply revised its oil-price outlook in its latest STEO amid the Strait of Hormuz disruptions, with Brent trading near $94 per barrel and the forecast raising averages to $79 for Brent in 2026 and $64 in 2027 (up from a month earlier). The agency also sees U.S. crude output rising to about 13.6 mbpd in 2026 and 13.8 mbpd in 2027, contingent on the conflict being temporary and tanker traffic gradually resuming; if disruptions persist, prices and supply balances could move much more than currently forecast.

via Crude Oil Prices Today | OilPrice.com|
#brent-crude#eia#geopolitics
Oil Edges Higher as U.S. Crude Stock Decline Outpaces Seasonal Demand
energy2 months ago

Oil Edges Higher as U.S. Crude Stock Decline Outpaces Seasonal Demand

U.S. crude inventories fell 2.3 million barrels to 423.8 million for the week ending Jan. 24 per the EIA, about 3% below the five-year average, with API reporting a smaller draw a day earlier. Prices rose with Brent near $68.11/bbl and WTI around $63 as winter disruptions and geopolitical risk premiums supported markets. Gasoline stocks increased slightly, distillates rose modestly, and total products supplied (a demand proxy) climbed to 20.3 million b/d over four weeks, though year-over-year demand remained essentially flat-to-down.

via Crude Oil Prices Today | OilPrice.com|
#crude-oil#eia#energy
Oil Dips as Iran Tensions Ease; Natural Gas Rises After EIA Draw
forecasts2 months ago

Oil Dips as Iran Tensions Ease; Natural Gas Rises After EIA Draw

Natural gas rebounds after the EIA report showing a -71 Bcf draw, with prices testing the $3.10 area and eyeing resistance around $3.25–$3.30; WTI crude slips below $60 as Iran supply-disruption fears ease following Trump’s comments, with a path toward $55.50–$56.00 if it continues lower; Brent crude also eases toward $64 as Iran risk fades, with a downside target near $62.54 if losses extend.

via FXEmpire|
#brent-oil#eia#forecasts
Oil slides as Trump eases Iran risk and supply fears
business2 months ago

Oil slides as Trump eases Iran risk and supply fears

Oil prices fell more than 4% after President Trump said Iran killings were ending, easing fears of immediate conflict and supply disruption. The U.S. withdrew some forces in the Middle East, while the EIA reported a larger-than-expected rise in crude and gasoline stocks. Venezuela also moved to reverse output cuts, and demand forecasts suggested a near balance between supply and demand in the near term.

via Reuters|
#business#eia#energy-markets
Oil Prices Rebound Amid Rising Inventories and OPEC+ Decisions
energy1 year ago

Oil Prices Rebound Amid Rising Inventories and OPEC+ Decisions

Crude oil prices fell as the U.S. Energy Information Administration reported an unexpected inventory build of 1.2 million barrels for the week ending May 31, along with increases in gasoline and middle distillate inventories. This follows similar reports from the American Petroleum Institute and comes amid concerns over potential reversals of OPEC+ production cuts, leading to a market selloff and oil prices hitting a four-month low.

via OilPrice.com|
#crude-oil#eia#energy
"US Maintains Unprecedented Lead in Global Oil Production for Sixth Consecutive Year"
energy2 years ago

"US Maintains Unprecedented Lead in Global Oil Production for Sixth Consecutive Year"

The US led global oil production for the sixth consecutive year in 2023, surpassing its own record with an average of 12.9 million barrels per day. Alongside Russia and Saudi Arabia, the three countries accounted for 40% of global oil production. The EIA report highlighted the US's dominance in oil production, driven by advancements in hydraulic fracturing and horizontal drilling techniques, particularly in the Permian Basin. Russia, which led global production in 2017, has faced production growth challenges due to sanctions and voluntary cuts.

via Fox Business|
#eia#energy#oil-production
"U.S. Crude Stocks Rise, Oil Prices Dip"
energy-markets2 years ago

"U.S. Crude Stocks Rise, Oil Prices Dip"

The U.S. Energy Information Administration reported a 4.2 million barrel increase in crude oil inventories, while gasoline and middle distillates saw draws. This news caused oil prices to drop, despite earlier reports of OPEC+ extending production cuts. The American Petroleum Institute also reported an unexpected 8.43 million barrel build in oil inventories, further impacting prices. Brent crude was trading at $84.15 per barrel, and West Texas Intermediate at $79.31 per barrel.

via OilPrice.com|
#crude-oil#eia#energy-markets
"U.S. Oil Production Forecast: Zero Growth Until 2025"
energy2 years ago

"U.S. Oil Production Forecast: Zero Growth Until 2025"

The EIA predicts zero growth in US crude oil production for 2024, with a drop in production expected for the remainder of the year. The cold snap in January caused a temporary decline in production, and the EIA forecasts a return to near-record levels in February. This lack of production growth could support crude oil prices and help OPEC tighten the market, with a global oil supply deficit of 120,000 bpd expected for this year.

via OilPrice.com|
#eia#energy#global-oil-supply-deficit
US Crude Production Growth to Stall Through 2025, Easing Oil Glut Concerns
energy2 years ago

US Crude Production Growth to Stall Through 2025, Easing Oil Glut Concerns

The U.S. Energy Information Administration (EIA) has revised its forecast for domestic oil growth in 2024, projecting a slower increase of 170,000 barrels per day (bpd) compared to last year's 1.02 million bpd. U.S. crude oil production is expected to reach 13.21 million bpd in 2024, with a slight decrease in the middle of the year. Global oil inventories have risen due to disruptions in the Red Sea shipping lane, and the EIA anticipates a rise in crude oil prices into the mid-$80s followed by downward pressure in the second quarter of 2024.

via Reuters|
#eia#energy#energy-outlook
"Forecast: U.S. Oil Production to Reach New Record Highs Despite Market Battle"
energy2 years ago

"Forecast: U.S. Oil Production to Reach New Record Highs Despite Market Battle"

The Energy Information Administration (EIA) forecasts that the United States will reach a new record in crude oil production at 13.4 million barrels per day in 2025, driven by increases in well efficiency. However, the EIA also predicts a slowdown in production growth due to fewer active drilling rigs. Additionally, the report forecasts a decline in U.S. coal production and expects global liquid fuels production growth to slow in 2024 before rebounding in 2025. The EIA also anticipates relatively balanced global supply and demand of petroleum liquids, with crude oil prices expected to slightly outpace demand growth in 2025.

via OilPrice.com|
#crude-oil#eia#energy
Oil and Fuel Stocks Surge, Surpassing Expectations
energy2 years ago

Oil and Fuel Stocks Surge, Surpassing Expectations

The U.S. Energy Information Administration (EIA) reported a significant build in oil and fuel stocks, with oil inventories increasing by 2.9 million barrels, gasoline inventories adding 2.7 million barrels, and middle distillate stocks rising by 1.5 million barrels. This comes amid security concerns in the Red Sea, leading to rerouting of shipping routes and increased military presence in the region. Crude oil prices moved lower in response to the inventory increase.

via OilPrice.com|
#eia#energy#fuel-stocks
Natural Gas Futures Surge on Bullish Storage Data and Rising Costs for Producers
energy2 years ago

Natural Gas Futures Surge on Bullish Storage Data and Rising Costs for Producers

The U.S. Energy Information Administration (EIA) reported a smaller-than-expected injection of 33 Bcf natural gas into storage for the week ended Sept. 1, causing a rally in Nymex natural gas futures. Prior to the report, market expectations ranged from 33 Bcf to 65 Bcf, with a median estimate of 42 Bcf. The October futures contract initially rose to $2.600/MMBtu before settling at $2.590/MMBtu, up 8.0 cents.

via Natural Gas Intelligence|
#eia#energy#market-expectations
animal-health2 years ago

EIA Detected in Oklahoma Horse

A 15-year-old horse in Oklahoma has tested positive for equine infectious anemia (EIA), a viral disease that attacks horses' immune systems. The infected horse was euthanized, and the remaining 21 horses in the herd are under quarantine until state testing requirements are met. EIA is transmitted through the exchange of body fluids and can be spread by blood-feeding insects or contaminated instruments. Infected horses are carriers for life, and there is no vaccine or cure for the disease.

via TheHorse.com|
#animal-health#eia#equine-disease