Brent and WTI crude oil prices expected to average about $50 per barrel through 2018

15 Jul 2017   Prices

Source: U.S. Energy Information Administration, Short-Term Energy Outlook, July 2017 Note: Confidence interval derived from options market information for the five trading days ending July 6, 2017. Intervals not calculated for months with sparse trading in near-the-money options contracts. EIA now forecasts Brent crude oil spot prices to average $51 per barrel (b) in 2017 and $52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be $2/b lower than Brent prices in 2017 and 2018. Daily and monthly average prices could vary significantly from this forecast because global economic developments and geopolitical events in the coming months have the potential to push oil prices higher or lower than the current Short-Term Energy Outlook (STEO) price forecast. For example, EIA’s forecast for the average WTI price in October 2017 is $48/b, while the options markets indicate an expected range of WTI prices from $36/b to $60/b […]

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