Environment and Energy
September 16, 2022
Energy Market Analysis Through September
Written by Brett Linton
The Energy Information Administration’s August Short-Term Energy Outlook (STEO) was released earlier this month, forecasting spot prices and production for crude oil and natural gas. Crude oil prices are expected to remain at heightened levels for the remainder of this year, rising slightly into 2023. Natural gas prices are forecast to remain near recent highs through the remainder of the year, but to ease into 2023 as production rises. EIA notes a level of uncertainty in its forecast, explaining, “the possibility of petroleum supply disruptions and slower-than-expected crude oil production growth continues to create the potential for higher oil prices, while the possibility of slower-than-forecast economic growth creates the potential for lower prices.”
In this Premium analysis we cover oil and natural gas prices, North American drilling rig activity, active drill rigs by state, and US crude oil stock levels.
