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USA EIA Drops WTI Price for 2024
The U.S. Energy Information Administration (EIA) has lowered its West Texas Intermediate (WTI) oil price forecast in its latest short term energy outlook (STEO), which was released recently. In its June STEO, the EIA is forecasting that the WTI spot price will average $80.32 per barrel in the second quarter of 2024, $78.75 per barrel in the third quarter, $82.14 per barrel in the fourth quarter, and $79.70 per barrel overall in 2024. In its previous May STEO, the EIA projected that the WTI spot price would average $84.76 per barrel in the second quarter of 2024, $85.50 per barrel in the third quarter, $84.17 per ... (full story)