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EIA's September Short-Term Energy Outlook expects Brent to average $73 per barrel in 2018 and $74 in 2019, with WTI about $6 lower. US crude output is forecast at 10.7 million b/d in 2018 and 11.5 million in 2019.
Dry gas production is forecast at a record 81.0 Bcf/d in 2018, up 7.4 Bcf/d from 2017.
Rising US oil and gas output adds supply that caps crude and gas prices. Brent is forecast to stay in a stable $72 to $76 range, so the outlook implies no major price shock.
fuelsmarketnews.comFuels Market NewsSep 12, 2018After 41 past neutral report events, BRENT moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% over 20.
After 56 past neutral report events, WTI moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% over 20.
After 62 past bearish report events, NATGAS moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
