EIA STEO Report

January 2018 EIA STEO Highlight

Brent crude oil spot prices averaged $64 per barrel (b) in December, an increase of $2/b from the average in November.
U.S. crude oil production is estimated to have averaged 9.3 million b/d in 2017. U.S. crude oil production is forecast to average 10.3 million b/d in 2018, which would mark the highest annual average production in U.S. history.
Natural gas production is forecast to average 80.4 Bcf/d 2018, a 6.9 Bcf/d increase from the 2017 level. 

January 2018 EIA STEO Report

December 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $63 per barrel (b) in November, an increase of $5/b from the average in October. EIA forecasts Brent spot prices to average $54/b in 2017 and $57/b in 2018.
U.S. crude oil production is estimated to have averaged 9.7 million b/d in November, an increase of about 360,000 b/d from the October average. 
Natural gas production is forecast to average 73.5 billion cubic feet per day (Bcf/d) in 2017, a 0.7 Bcf/d increase from the 2016 level.

December 2017 EIA STEO Report

November 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $58 per barrel (b) in October, an increase of $1/b from the average in September. EIA forecasts Brent spot prices to average $53/b in 2017 and $56/b in 2018.
U.S. crude oil production is estimated to have averaged 9.3 million b/d in October, an increase of about 90,000 b/d from the September average. 
Natural gas production is forecast to average 73.4 billion cubic feet per day (Bcf/d) in 2017, a 0.6 Bcf/d increase from the 2016 level.

November 2017 EIA STEO Report

October 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $56 per barrel (b) in September, an increase of $4/b from the average in August. EIA forecasts Brent spot prices to average $52/b in 2017 and $54/b in 2018, 
U.S. crude oil production is estimated to have averaged 9.3 million b/d in September, an increase of about 250,000 b/d from the August average. 
Natural gas production is forecast to average 73.6 billion cubic feet per day (Bcf/d) in 2017, a 0.8 Bcf/d increase from the 2016 level.

October 2017 EIA STEO Report

September 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $52 per barrel (b) in August. EIA forecasts Brent spot prices to average $51/b in 2017 and $52/b in 2018.
U.S. crude oil production is estimated to have averaged 9.2 million b/d in August, down about 40,000 b/d from the July average.
Natural gas production is forecast to average 73.7 billion cubic feet per day (Bcf/d) in 2017, a 1.4 Bcf/d increase from the 2016 level. 

September 2017 EIA STEO Report

August 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $48 per barrel (b) in July and almost $4/b higher than in July 2016. EIA forecasts Brent spot prices to average $51/b in 2017 and $52/b in 2018.
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.3 million b/d in 2017 and 9.9 million b/d in 2018, which would mark the highest annual average production in U.S. history, surpassing the previous record of 9.6 million b/d set in 1970. 
Natural gas production is forecast to average 73.5 billion cubic feet per day (Bcf/d) in 2017, a 1.2 Bcf/d increase from the 2016 level. Natural gas production in 2018 is forecast to be 3.9 Bcf/d above the 2017 level.

August 2017 EIA STEO Report

July 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $46 per barrel (b) in June, $4/b decrease from the May average and the lowest monthly average since November of last year when prices averaged $45/b. 
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.3 million b/d in 2017 and 9.9 million b/d in 2018, which would mark the highest annual average production in U.S. history, surpassing the previous record of 9.6 million b/d set in 1970. 
Natural gas production is forecast to average 73.3 billion cubic feet per day (Bcf/d) in 2017, a 1.0 Bcf/d increase from the 2016 level. Forecast dry natural gas production increases by an average of 3.1 Bcf/d in 2018

July 2017 EIA STEO Report

June 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $50 per barrel (b) in May, $2/b lower than the April average. EIA forecasts Brent prices to average $53/b in 2017 and $56/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018.  
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.3 million b/d in 2017 and 10.0 million b/d in 2018. EIA forecasts OPEC crude oil production will average
32.3 million barrels per day (b/d) in 2017 and 32.8 million b/d in 2018.
Natural gas production is forecast to average 73.3 billion cubic feet per day (Bcf/d) in 2017, a 1.0 Bcf/d increase from the 2016 level. 

June  2017 EIA STEO Report

May 2017 EIA STEO Highlight

Brent crude oil spot prices averaged $52 per barrel (b) in April, $1/b higher than the March average. EIA forecasts Brent prices to average $53/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018. 
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.3 million b/d in 2017 and 10.0 million b/d in 2018.  
Natural gas production is forecast to average 74.1 billion cubic feet per day (Bcf/d) in 2017, a 1.8 Bcf/d increase from the 2016 level. 

May 2017 EIA STEO Report

April 2017 EIA STEO Highlight

Brent crude oil prices averaged $52/b in March, $3/b lower than the February average. EIA forecasts Brent prices to average $54/b in 2017 and $57/b in 2018. WTI crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018. 
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.2 million b/d in 2017 and 9.9 million b/d in 2018.  
Natural gas production is forecast to average 73.1 billion cubic feet per day (Bcf/d) in 2017, a 0.8 Bcf/d increase from the 2016 level. 

April 2017 EIA STEO Report

March 2017 EIA STEO Highlight

Brent crude oil prices averaged $55/b in February, largely unchanged from the average in January. 
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.2 million b/d in 2017 and 9.7 million b/d in 2018
Natural gas production is forecast to average 73.7 billion cubic feet per day (Bcf/d) in 2017, a 1.4 Bcf/d increase from the 2016 level. 

March 2017 EIA STEO Report

February 2017 EIA STEO Highlight

Brent crude oil prices averaged $55/b in January, a $1/b increase from December. This price was $24/b higher than the January 2016 average.  
U.S. crude oil production averaged an estimated 8.9 million b/d in 2016, and forecast to average 9.0 million b/d in 2017 and 9.5 million b/d in 2018. 
Natural gas production is forecast to average 73.7 billion cubic feet per day (Bcf/d) in 2017, a 1.3 Bcf/d increase from the 2016 level. 

February 2017 EIA STEO Report

January 2017 EIA STEO Highlight

Brent crude oil prices averaged $53/b in December, a $9/b increase from November, and forecast to average $53/b in 2017 and $56/b in 2018
U.S. crude oil production averaged 8.9 million b/d in 2016 and is forecast to average 9.0 million b/d in 2017 and 9.3 million b/d in 2018
Natural gas production averaged 72.4 Bcf/d in 2016. Forecast dry natural gas production increases by an average of 1.4 Bcf/d in 2017 and by 2.8 Bcf/d in 2018.

January 2017 EIA STEO Report

December 2016 EIA STEO Highlight

Brent crude oil prices are forecast to average $43/b in 2016 and $52/b in 2017.
U.S. crude oil production forecast to average 8.9 million b/d in 2016 and 8.8 million b/d in 2017. Forecast production in 2017 is almost 0.1 million b/d higher than in the previous forecast.
Natural gas production to average 77.5 Bcf/d in 2016. In 2017, forecast production increases by 2.5 Bcf/d in 2016 level.

December 2016 EIA STEO Report

November 2016 EIA STEO Highlight

Brent crude oil prices are forecast to average $43/b in 2016 and $51/b in 2017 ($48/b in 4Q 2016 and 1Q 2017).
U.S. crude oil production forecast to average 8.8 million b/d in 2016 and 8.7 million b/d in 2017. Forecast production in 2017 is almost 0.1 million b/d higher than in the previous forecast.
Natural gas production to average 77.3 Bcf/d in 2016. Forecast production increases by 2.9 Bcf/d in 2016 level.

November 2016 EIA STEO Report

October 2016 EIA STEO Highlight

Brent crude oil prices are forecast to average $43/b in 2016 and $51/b in 2017, $1/b higher and $1/b lower than forecast in last month’s STEO, respectively.
U.S. crude oil production forecast to average 8.7 million b/d in 2016 and 8.6 million b/d in 2017. Forecast production in 2017 is almost 0.1 million b/d higher than in the previous forecast.
Natural gas production to average 77.5 Bcf/d in 2016, a decrease of 1.6% from the 2015 level, which would be the first annual decline since 2005. Forecast production increases by 3.7 Bcf/d in 2017.
U.S. household expenditures for natural gas, heating oil, electricity, and propane will increase this winter (October 1 through March 31) compared with last winter.

October 2016 EIA STEO Report

September 2016 EIA STEO Highlight

Benchmark North Sea Brent crude oil spot prices averaged $46/barrel (b) in August, a $1/b increase from July.
Brent crude oil prices are forecast to average $43/b in 2016 and $52/b in 2017. West Texas Intermediate (WTI) crude oil prices are forecast to average $1/b less than Brent in 2016 and 2017.
U.S. crude oil production averaged 9.4 million barrels per day (b/d) in 2015. Production is forecast to average 8.8 million b/d in 2016 and 8.5 million b/d in 2017.
Natural gas working inventories were 3,401 billion cubic feet (Bcf) on August 26. This level is 8% higher than last year during the same week, and 11% higher than the previous five-year (2011–15) average for that week.

September 2016 EIA STEO Report

August 2016 EIA STEO Highlight

EIA estimates that the amount of electricity generated using natural gas reached a record high during July, surpassing the previous record set in July 2015.
Benchmark North Sea Brent crude oil spot prices averaged $45/barrel (b) in July, a $3/b decrease from June.
Brent crude oil prices are forecast to average $42/b in 2016 and $52/b in 2017. West Texas Intermediate (WTI) crude oil prices are forecast to be slightly less than Brent in 2016 and the same as Brent in 2017. 
U.S. crude oil production averaged 9.4 million barrels per day (b/d) in 2015. Production is forecast to average 8.7 million b/d in 2016 and 8.3 million b/d in 2017.
Natural gas working inventories were 3,288 billion cubic feet (Bcf) on July 29. This level is 13% higher than last year during the same week, and 16% higher than the previous five-year (2011-15) average for that week.

August EIA STEO Report

July 2016 EIA STEO Report Highlight

U.S. regular gasoline retail prices this summer are forecast to average $2.25/gallon (gal), 2 cents/gal lower than forecast in last month’s STEO
U.S. crude oil production averaged 9.4 million barrels per day (b/d) in 2015. Production is forecast to average 8.6 million b/d in 2016 and 8.2 million b/d in 2017, both unchanged from last month’s STEO.
Natural gas working inventories were 3,179 billion cubic feet (Bcf) on July 1. This level is 20% higher than a year earlier, and 23% higher than the previous five-year (2011–15) average for that week.
Benchmark North Sea Brent crude oil spot prices averaged $48/barrel (b) in June, a $2/b increase from May.
West Texas Intermediate (WTI) crude oil prices are forecast to be the same as Brent in 2016 and in 2017.

July 2016 EIA STEO Report 

EIA STEO Reports

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