EIA significantly raised its forecast for 2021 crude oil prices

Release time: 2021/6/9

  On June 8, the U.S. Energy Information Administration (EIA) on Tuesday cut its 2021 global oil demand growth forecast by 10,000 barrels per day to 5.41 million barrels per day。  
  In its monthly forecast, the agency cut its forecast for 2022 oil demand growth by 90,000 BPD to 3.64 million BPD。  
  EIA forecasts a WTI crude price of 61 in 2021.$85 / barrel (previously expected to be 58.$91 per barrel) and 56 in 2022.$74 / barrel (previously expected to be 56.$99 / barrel)。Brent crude is expected to be 65 in 2021.$19 / barrel (previously expected to be 62.$26 per barrel) and 60 in 2022.$49 / barrel (previously expected to be 60.$74 / barrel)。
  EIA says,U.S. crude oil production will fall by 230,000 BPD in 2021 to 1,1.08 million barrels per day,The decline was smaller than the previous forecast of 290,000 BPD to 1,1.02 million barrels per day;In 2022, U.S. crude oil production will grow by 710,000 BPD to 1,1.79 million barrels per day,It had been expected to increase by 820,000 BPD to 1,1.84 million barrels per day。  
  The agency said U.S. crude oil demand growth in 2021 is expected to be 1.49 million barrels per day, up from its previous forecast of 1.39 million barrels per day.U.S. crude oil demand growth in 2022 is expected to be 1 million barrels per day, lower than the previous forecast of 1.02 million barrels per day。  
  For natural gas, EIA expects U.S. natural gas (dry gas) production to be 921 in 2021.800 million cubic feet per day, compared with 910 previously expected.600 million cubic feet per day;It will be 939 in 2022.300 million cubic feet per day, compared with 931 previously expected.200 million cubic feet per day。U.S. natural gas consumption is expected to be 828 in 2021.500 million cubic feet per day, compared with 829 previously expected.300 million cubic feet per day;It will be 828 in 2022.500 million cubic feet per day, compared with 820 previously expected.700 million cubic feet per day。  
  The agency said natural gas prices in 2021 are expected to be 3.$19 per thousand cubic feet, compared with expectations of $3.$17 per thousand cubic feet;The price of natural gas in 2022 is expected to be 3.$05 per thousand cubic feet, compared with expectations of $3.$13 per thousand cubic feet。
  (Article source: foreign media network)

Share to:

Add: No.8, Fumian South Road, Duruan Town, Pengjiang District, Jiangmen
手机:13318669889 / 13826157288
电话:0750-3928566 / 0750-3928567
传真:0750-3928500
Email: yungui.xie@gd-yuean.com.cn
Website: http://n.olderwiseraod.net
Copyright © Guangdong Yue 'an Chemical Storage Co., LTD. All Rights Reserved. Guangdong ICP for 2021043146  Jiangmen warehousing LogisticsGuangdong Warehousing LogisticsJiangmen Chemical Storage