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Author: Admin | 2025-04-28
Oil prices will be $80.95 per barrel and the American West Texas Intermediate (WTI) will register $77 per barrel in 2024. In the previous month's report, these figures were $80.89 and $76.91, respectively.For next year, the agency expects Brent crude to average $76.06 per barrel and WTI to average $71.60 per barrel.- US crude production forecast revised upCrude oil production in the US is expected to average 13.23 million barrels per day (bpd) in 2024, up from 12.93 million bpd last year. The figure is around 300,000 bpd less than the previous month's forecast.Next year, crude oil output in the country is expected to reach 13.53 million bpd, down by about 10,000 bpd from last month's prediction.The agency also estimated that average global oil production will be 102.62 million bpd at the end of the year and 104.66 million bpd next year.Global oil demand, meanwhile, is anticipated to reach 103.13 million bpd in 2024, while demand is expected to be around 104.35 million bpd in 2025.By Basak ErkalanAnadolu Agencyenergy@aa.com.tr
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