Crude Oil Prices Will Increase Through 2024 As Demand Rises Above Supply — EIA Forecast

CleanTechnica
By U.S. Energy Information AdministrationAug 16, 2023, 3:58 am183 ptsTrending
We forecast higher crude oil prices in the second half of 2023 and into 2024 in our latest Short-Term Energy Outlook (STEO) because of moderate but persistent inventory drawdowns. Inventory drawdowns take place when demand for a commodity is greater than the supply of that commodity. We expect production cuts…

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