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By Shariq Khan NEW YORK, April 7 (Reuters) – The U.S. Energy Information Administration said on Monday it is delaying publication of the “Short-Term Energy Outlook” (STEO) report, amid a plunge in oil prices to near four-year lows over growing concerns of a global recession. The report, scheduled for Tuesday, April 8, will now be …
US EIA Delays Short-Term Outlook Report Amid Oil Market Downturn Read More »
Goldman Sachs revised down its annual average price forecasts again for Brent and WTI crude in 2026, citing increased recession risks and the possibility of higher-than-expected OPEC+ supply. In a note dated April 6, the bank cut its 2026 average price forecast by $4 for Brent to $58 a barrel and WTI to $55. The …
Goldman Sachs Lowers 2026 Oil Price Forecasts Again Read More »
By Georgina Mccartney HOUSTON, March 21 (Reuters) – Oil prices will likely slip this year, the director of North Dakota’s state oil regulator predicted, amid uncertainty surrounding U.S. President Donald Trump’s tariffs on neighboring Canada and Mexico. North Dakota is the third-largest oil producing state in the U.S. U.S. crude futures have been trading below …
March 18 (Reuters) – HSBC expects the oil market to be in a surplus in 2025 and 2026 due to strong supply and sluggish demand growth, the bank said in a note on Tuesday. The bank said that it expects a surplus of 200,000 barrels per day this year, revising its a previous forecast of …
HSBC Forecasts Surplus Oil in 2025, 2026 on Strong Supply, Sluggish Demand Growth Read More »
(Reuters) – U.S. oil and gas producers are unlikely to increase spending this year and output increases will primarily come from improved efficiencies rather than new drilling, Baker Hughes Chief Executive Lorenzo Simonelli said on Monday. The outlook comes as U.S. President Donald Trump’s administration has repeatedly exhorted the industry to “Drill, baby, drill,” to …
Baker Hughes Says Oil Producers Unlikely to Increase Spending This Year Read More »
(Reuters) – Bank of America expects Brent crude to average $75 per barrel in 2025 and $73 in 2026, citing low global oil inventories, balanced supply and demand, and about 5 million barrels per day of OPEC spare production capacity. The Organization of the Petroleum Exporting Countries and its allies including Russia, a group known …
Bank of America predicts Brent crude to average $75/bbl in 2025 Read More »
(Reuters) – India’s natural gas consumption is set to jump 60% between 2023 and 2030, doubling the country’s need for liquefied natural gas imports, as domestic output is expected to grow much more slowly than demand, the International Energy Agency said on Tuesday. Rapid urbanisation and industrialisation are set to transform the energy market in …
India Gas Demand to Surge by 2030, Doubling LNG Imports, Says IEA Read More »
(Reuters) – U.S. oil production is poised to set a larger record this year than prior estimates, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short-Term Energy Outlook report. U.S. President Donald Trump has vowed to maximize U.S. oil production even as energy executives have held steadfast on prioritizing capital discipline over …
(Reuters) – U.S. natural gas futures dropped to a near one-week low in holiday-thinned trade on Monday on forecasts of less cold weather starting late January, even as spot rates climbed as frigid cold conditions for most of the U.S. boosted demand for heating. Front-month gas futures for February delivery on the New York Mercantile …
US NatGas Futures Drop in Quiet Trade; Frigid Weather Drives Up Spot Rates Read More »
(Reuters) – The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended oil production cuts, it said on Friday in the latest update to its global outlook. It also trimmed its 2024 growth estimate for the Gulf state to 1.4%. In its October Regional Economic …
IMF Lowers 2025 Saudi Arabia Growth Forecast on Extended Oil Production Cuts Read More »
