Where will the WTI oil price be at the end of 2023?

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Inspenet, April 23, 2023

USD 79.64 per barrel. That was the average response of 145 oil and gas company executives when asked what they expected the price of WTI to be at the end of 2023 as part of the Dallas Fed ‘s first-quarter 2023 energy survey.

The low forecast in the survey came in at $50 a barrel, while the high forecast came in at $160 a barrel. The WTI price during the survey collection period, which ran from March 15 to 23, averaged $68.51 per barrel.

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In the Fourth Quarter 2022 Dallas Fed Energy Survey, where respondents were asked about WTI prices for 2023, the average response was $83.63 per barrel. The low forecast in that survey was $65 a barrel, while the high forecast was $160 a barrel.

1699 precio petroleo interna
Where will the WTI oil price be at the end of 2023?

The three previous surveys throughout 2022 asked respondents what they expected the year-end prices of 2022 to be.

In its latest Short-Term Energy Outlook (STEO), which was released on March 2, the US Energy Information Administration (EIA) projected that the spot price of WTI would average $77.10 per barrel in 2023 and USD 71.57 per barrel in 2024.

Based on the March STEO, EIA expects the WTI spot price to average $78.05 in Q1 2023, $78 per barrel in Q2, $77 per barrel in Q3, $75.35 per barrel in the fourth quarter, $74 per barrel in the first quarter of next year, $72.34 per barrel in the second quarter of 2024, $70.69 per barrel in the third quarter of 2024, and $69.36 per barrel in the fourth quarter of 2024.

The next STEO is scheduled to be released on April 11.

In a report sent to Rigzone on April 4, analysts at Standard Chartered predicted that WTI would average $88 per barrel in 2023, $95 per barrel in 2024, and $106 per barrel in 2025.

The report showed that analysts expected WTI to average $85 per barrel in the third quarter of 2023, $91 per barrel in the fourth quarter, $89 per barrel in the first quarter of next year, $91 per barrel in the second quarter of 2024 and USD 95 per barrel in the third quarter of 2024.

The Dallas Federal Reserve conducts the Dallas Federal Reserve Energy Survey quarterly to obtain a timely assessment of energy activity among oil and gas companies located or headquartered in the Eleventh District, the Dallas Federal Reserve notes in its website.

Source : https://petrobanca.com/donde-estara-el-precio-del-petroleo-wti-a-finales-de-2023/

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