EIA – Short-Term Energy Outlook

by Sabrina I. Pacifici on January 10, 2012

“This edition of the Short-Term Energy Outlook is the first to include forecasts for 2013. EIA expects the price of West Texas Intermediate (WTI) crude oil to average about $100 per barrel in 2012, $5 per barrel higher than the average price last year. For 2013, EIA expects WTI prices to continue to rise, reaching $106 per barrel in the fourth quarter of next year. EIA’s forecast assumes that U.S. real gross domestic product (GDP) grows by 1.8 percent in 2012 and 2.5 percent in 2013, while world real GDP (weighted by oil consumption) grows by 2.9 percent and 3.8 percent in 2012 and 2013, respectively.”

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