U.S. Liquid Fuels – Short-Term Energy Outlook 09-10

Onyx Power and Gas Consulting continues with its weekly series providing the Short-Term Energy Outlook as of September 10, 2019.  This series of news articles should provide a complete insight on the current conditions of the energy…enjoy, check out archives and come back each week for additional information on how all sorts of energy sources impact our daily lives.

U.S. Liquid Fuels

  • Brent crude oil spot prices averaged $59 per barrel (b) in August, down $5/b from July and $13/b lower than the average from August of last year. EIA forecasts Brent spot prices will average $60/b in the fourth quarter of 2019 and $62/b in 2020. EIA forecasts that West Texas Intermediate (WTI) prices will average $5.50/b less than Brent prices in 2020.
  • EIA forecasts U.S. crude oil production will average 12.2 million b/d in 2019, up by 1.2 million from the 2018 level. Forecast crude oil production then rises by 1.0 million b/d in 2020 to an annual average of 13.2 million b/d. The slowing rate of crude oil production growth reflects relatively flat crude oil price levels and slowing growth in well-level productivity.
  • Because of the delayed release of EIA’s Petroleum Supply Monthly (PSM) data for June 2019, historical monthly petroleum data in this STEO end one month earlier than standard, in May 2019. This delay does not materially affect the September STEO forecast. The June data will be incorporated into the October STEO.
U.S. liquid fuels product supplied growth
U.S. Hydrocarbon gas liquids product supplied growth
U.S. crude oil production
U.S. commercial crude oil stocks
U.S. liquid fuels production growth
U.S. gasoline and crude oil prices
U.S. diesel fuel and crude oil prices
U.S. gasoline and distillate inventories

The professional consultants at Onyx Power & Gas Consulting are always ahead of the current issues that may affect energy consumption and pricing. Now is the time to partner with an Onyx professional consultant to discuss energy management and secure energy prices based on today’s stable pricing. Volatility in the energy markets makes it too precarious to take chances. Partner with Onyx Power & Gas in Making Energy Make a Difference!

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