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Posted January 17, 2025A look back at our forecast for global crude oil prices in 2024 ›
Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year that we had forecast in our January 2024 Short-Term Energy Outlook (STEO) and more in-depth analysis. In the January 2024 STEO, we forecast that markets would be relatively balanced in 2024, changing little from the 2023 average Brent price of $82/b. On an annual basis, our forecast for balanced markets was relatively accurate, as global inventories showed only a slight drawdown of 0.18 million barrels per day in 2024.
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What's New
- State Energy Portal: Updated Analyses and Quick Facts
- Jan 16, 2025
- Short-Term Energy Outlook
- Jan 14, 2025
- State Energy Data System: Natural gas through 2023
- Jan 10, 2025
- More
Top Picks
Data Highlights
- 1/16/2025
- Wind and solar combined share of generation
- 14.0
- %
-
4.3%
from year earlier
- 1/16/2025
- Daily electric power demand
- 12348
- GWh
-
1.5%
from year earlier
- 1/13/2025
- Natural gas spot prices
- $4.40
- /million Btu
-
$0.345 /million Btu
from week earlier -
$1.145 /million Btu
from year earlier
- 1/10/2025
- Brent spot prices
- $79.76
- /barrel
-
$3.04 /barrel
from week earlier -
$0.13 /barrel
from year earlier
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