Pulling the Curtain Back on EIA 2016/2017 Oil Price Predicition

| |
Yesterday MDN brought you the latest thinking/preview for where the U.S. Energy Information Administration (EIA) believes energy production and prices will go over the next 12-24 months, something called the Short-Term Energy Outlook (see EIA’s STEO Predicts NatGas Price Constant This Year, Up Next Year). Today we bring you a deeper dive into the EIA's predictions with respect to the price of crude oil. The EIA forecasts Brent crude oil prices will average $40 per barrel in 2016 and $50/barrel in 2017. West Texas Intermediate (WTI) crude oil prices are predicted to be $38/barrel in 2016 and $47/barrel in 2017. Here's a bit more background on how the EIA calculates its numbers for crude oil price...

To view this content, log into your member account. (Not a member? Join Today!)