EIA analysts expect global oil price pressures over the next two years as production grows more than demand. Global oil consumption growth in the forecast continues to lag the pre-pandemic trend.

US crude oil inventories for the week ended Jan. 31 increased by 8.7 million bbl from the previous week, according to data from the US EIA.

Wyoming’s oil production has been rebounding since March 2023. However, the rebound was impacted by the January 2024 storm.

Oil prices are expected to face downward pressures over the next 2 years due to global oil production outpacing demand, according to a report by the US ... EIA’s forecast continues to be slower ...

February WTI crude oil ... EIA crude inventories fell more than expected to a 2-3/4 year low. Gasoline prices also found support today after Colonial Pipeline Co. said it will keep the largest ...

NEW YORK, Jan 14 (Reuters) - Oil prices will be under pressure over the next two years as global production growth outpaces demand, the U.S. Energy Information Administration said on Tuesday in ...

WTI crude oil (CLH25) today is down -1.49 (-2.05%), and March RBOB gasoline (RBH25) is down -0.0519 (-2.47%). Crude oil and ...

(MENAFN- Khaleej Times) US oil production ... the US energy Information Administration showed on Tuesday. US oil output has grown rapidly last year as drilling operations became more efficient ...

US gas prices ... of global oil demand in the EIA's forecast. The mismatch in global supply and demand will make for a 300,000 barrels per day surplus this year, which will more than double ...

US gas prices ... next two years as oil supply surpasses global demand, according to the US Energy Information Administration. The agency said US gasoline prices will likely fall to $3.20 per gallon ...