FUELS
EIA NEWS
� SHORT-TERM ENERGY OUTLOOK
Forecast Highlights
Brent crude oil spot prices averaged $ 64 per barrel ( b ) in February , up $ 5 / b from January 2019 and about $ 1 / b lower than at the same time last year . EIA forecasts Brent spot prices will average $ 63 / b in 2019 and $ 62 / b in 2020 , compared with an average of $ 71 / b in 2018 . EIA expects that West Texas Intermediate ( WTI ) crude oil prices will average $ 9 / b lower than Brent prices in the first half of 2019 before the discount gradually falls to $ 4 / b in the fourth quarter of 2019 and throughout 2020 .
EIA estimates that U . S . crude oil production averaged 11.9 million barrels per day ( b / d ) in February , down slightly from the January average . EIA forecasts that U . S . crude oil production will average 12.3 million b / d in 2019 and 13.0 million b / d in 2020 , with most of the growth coming from the Permian region of Texas and New Mexico .
Net imports of U . S . crude oil and petroleum products fell from an average of 3.8 million b / d in 2017 to an average of 2.3 million b / d in 2018 . EIAforecasts that net imports will continue to fall to an average of 1.0 million b / d in 2019 and to an average net export level of 0.1 million b / d in 2020 . In the fourth quarter of 2020 , EIA forecasts that
WEST TEXAS INTERMEDIATE ( WTI ) CRUDE OIL PRICE AND NYMEX CONFIDENCE INTERVALS dollars per barrel
the United States will be a net exporter of crude oil and petroleum products by about 0.9 million b / d .
The Henry Hub natural gas spot price averaged $ 2.69 / million British thermal units ( MMBtu ) in February , down 42 cents / MMBtu from January . EIA expects strong growth in U . S . natural gas production to put downward pressure on prices in 2019 .
THE MOST AFFORDABLE TANK MONITORING SOLUTION . GUARANTEED .
Award winning technology
Lowest monthly fees and hardware cost
Industry leading battery life Dual SIM design
Most advanced IoT cellular technology
Upgrade program We ’ ll take your other monitors off your hands
CONTACT US TO GET YOUR FREE STARTER
KIT !
1 ( 844 ) 763-3344 | ( 514 ) 673-0244
Free online dashboard
Free branded Nee-Vo app for clients
Free APIs to existing software
Visit otodatatankmonitors . com
10 MARCH 2019 | FUEL OIL NEWS | www . fueloilnews . com