Released on March 25, 2009 (Next Release on April 1, 2009) Recently, EIA and other oil market forecasters have been paying close attention to how the Organization of the Petroleum Exporting Countries (OPEC) is adjusting to lower global oil demand and weaker oil prices brought on by the global economic recession. Crude oil prices are… Read More
Department of Energy – Short-Term Energy Outlook
March 30, 2009 By
Highlights The global economic contraction continues to depress energy demand. The annual price of West Texas Intermediate (WTI) crude oil averaged $100 per barrel in 2008. The global economic slowdown is projected to cut these prices by more than half, to average $42 per barrel in 2009 and $53 in 2010—forecasts slightly lower than last… Read More
