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U.S. Crude Output Fell in August; Brent Poised to Average $47/bbl in 2021, EIA Says

U.S. Crude Output Fell in August; Brent Poised to Average $47/bbl in 2021, EIA Says

High global oil inventory levels and surplus production capacity will keep Brent crude prices near $40/bbl through the end of the year, with prices expected to climb to an average $47/bbl in 2021, according to a recent forecast from the Energy Information Administration (EIA). According to the agency’s latest Short-Term Energy Outlook (STEO), published Tuesday,…

November 11, 2020
U.S. Oil Production Recovers Ground but Existing Well Declines Remain a Drag, Says EIA

U.S. Oil Production Recovers Ground but Existing Well Declines Remain a Drag, Says EIA

U.S. crude oil production rebounded in September, though researchers anticipate new declines in the coming months. Oil production climbed to an estimated 11.2 million b/d in September from 10.8 million b/d in August, the Energy Information Administration (EIA) said in the latest Short-Term Energy Outlook (STEO). Production averaged 11.0 million b/d in July, up 0.5…

October 7, 2020
U.S. Natural Gas Prices to Average $3.13 in 2021, as Demand Mounts, Says EIA

U.S. Natural Gas Prices to Average $3.13 in 2021, as Demand Mounts, Says EIA

Increased domestic and international demand for natural gas as winter weather settles in, combined with continued light production levels, will drive Henry Hub spot prices to a monthly average of $3.38/MMBtu in January, the Energy Information Administration (EIA) said Tuesday. In the latest Short-Term Energy Outlook (STEO), the agency said it expects monthly average spot…

October 6, 2020
U.S. Natural Gas Prices to Average $3.40 in January as Domestic, Overseas Demand Climbs, Says EIA

U.S. Natural Gas Prices to Average $3.40 in January as Domestic, Overseas Demand Climbs, Says EIA

Demand for natural gas is likely to increase domestically and overseas heading into the winter, while production stagnates, pushing Henry Hub spot prices to an average of $3.40/MMBtu in January, the Energy Information Administration (EIA) said Wednesday. In the latest Short-Term Energy Outlook (STEO), forecasters said monthly average spot prices should “remain higher than $3.00/MMBtu…

September 9, 2020
Winter Demand, Slumping Production to Boost Henry Hub Prices in Coming Months, Says EIA

Winter Demand, Slumping Production to Boost Henry Hub Prices in Coming Months, Says EIA

Rising demand for natural gas heading into winter months, combined with reduced production, is likely to put upward pressure on prices, lifting the total 2020 Henry Hub spot price average to $2.03/MMBtu, with 2021 expected to average $3.14/MMBtu, according to the Energy Information Administration (EIA). That 2020 estimate, which is included in a Short-Term Energy…

August 11, 2020
Demand Slowdown Outpacing Natural Gas Production Decline, Keeping Lid on Prices, Says EIA

Demand Slowdown Outpacing Natural Gas Production Decline, Keeping Lid on Prices, Says EIA

Continuing economic sluggishness brought on by Covid-19 mitigation efforts is weighing down demand for natural gas, but there could be a price uptick on the horizon, according to the U.S. Energy Information Administration (EIA). Henry Hub spot prices are expected to average $2.46/MMBtu in 4Q2020, bringing the 2020 average to $1.93/MMBtu, EIA said in its…

July 7, 2020
Rising Demand, Production Declines to Push 2021 Henry Hub Price to $3.08, Says EIA

Rising Demand, Production Declines to Push 2021 Henry Hub Price to $3.08, Says EIA

Demand for natural gas is expected to increase next winter and production is expected to decline, causing upward pressure on prices and resulting in Henry Hub spot prices averaging $3.08/MMBtu in 2021, according to the Energy Information Administration (EIA).

June 10, 2020
EIA’s 2021 Henry Hub Price Forecast Leaps to $3.08 on Rising Demand, Production Declines

EIA’s 2021 Henry Hub Price Forecast Leaps to $3.08 on Rising Demand, Production Declines

Demand for natural gas is expected to increase next winter and production is expected to decline, causing upward pressure on prices, resulting in Henry Hub spot prices averaging $3.08/MMBtu in 2021, according to the Energy Information Administration (EIA).

June 9, 2020
Coronavirus Clouds Outlook, but EIA Still Sees Henry Hub at $2.11 This Year

Coronavirus Clouds Outlook, but EIA Still Sees Henry Hub at $2.11 This Year

The Energy Information Administration (EIA) said Tuesday domestic oil and natural gas production are likely to fall this year as the coronavirus takes a chunk out of demand at home and abroad, but the federal agency maintained the same gas price it forecast in March.

April 8, 2020
Coronavirus Clouds Outlook, but EIA Still Sees Henry Hub at $2.11 This Year

Coronavirus Clouds Outlook, but EIA Still Sees Henry Hub at $2.11 This Year

The Energy Information Administration (EIA) said Tuesday domestic oil and natural gas production are likely to fall this year as the coronavirus takes a chunk out of demand at home and abroad, but the federal agency maintained the same gas price it forecast in March.

April 8, 2020
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