Environment and Energy
May 12, 2022
Energy Market: High Prices, Moderate Drilling, Lower Stocks
Written by Brett Linton
The Energy Information Administration’s May Short-Term Energy Outlook (STEO) remains subject to a high level of uncertainty due to Russia’s invasion of Ukraine. Regarding price forecasts, the EIA continues to warn that “actual price outcomes will largely depend on the degree to which existing sanctions imposed on Russia, any potential future sanctions, and independent corporate actions affect Russia’s oil production or the sale of Russia’s oil in the global market.”
Spot Prices
