EIA Short Term Energy Outlook Forecast for Oil, and the Impact of Sanctions

As reported yesterday:

Source: EIA.

EIA also released yesterday an interesting analysis indicating that sanctions had reduced Russian oil production. No given quantity is expressed, but inferences are made on the basis of the difference between the February 2022 forecast, and actual outcomes.

Source: EIA (2023).

The impact of sanctions is also illustrated by the (continued) discount of Urals vs. Brent:

Source: TradingEconomics.com, accessed 11/8/2023.

The spread is about $11.50 latest.

Mike Ibanoz

Mike Ibanoz is an Emmy Award-winning journalist who has spent the better part of two decades covering gadgets and apps, and helping people make smarter tech decisions.

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