Brent crude oil spot prices averaged $45/bbl in August, up $2/bbl from the average in July and up $26/bbl from the multiyear low monthly average price in April. The increase in oil prices has occurred as EIA estimates global oil markets have shifted from global liquid fuels inventories building at a rate of 7.2 million b/d in the second quarter to drawing at a rate of 3.7 million b/d in the third quarter.
Tuesday, September 15, 2020
EIA: Short-term energy outlook remains subject to high uncertainty
The US Energy Information Administration’s September Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease (COVID-19) continue to evolve.
Brent crude oil spot prices averaged $45/bbl in August, up $2/bbl from the average in July and up $26/bbl from the multiyear low monthly average price in April. The increase in oil prices has occurred as EIA estimates global oil markets have shifted from global liquid fuels inventories building at a rate of 7.2 million b/d in the second quarter to drawing at a rate of 3.7 million b/d in the third quarter.
Brent crude oil spot prices averaged $45/bbl in August, up $2/bbl from the average in July and up $26/bbl from the multiyear low monthly average price in April. The increase in oil prices has occurred as EIA estimates global oil markets have shifted from global liquid fuels inventories building at a rate of 7.2 million b/d in the second quarter to drawing at a rate of 3.7 million b/d in the third quarter.
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