November Energy Market Update

The Energy Information Administration’s (EIA) October Short-Term Energy Outlook (STEO) was released earlier this month, forecasting spot prices, production, and inventories for crude oil and natural gas. Crude oil prices are forecast to remain stable through the first quarter of 2023, while natural gas prices are expected to decline slightly after January. The EIA continues to note a level of uncertainty in its forecasts, explaining that: “Uncertainty in macroeconomic conditions could significantly affect energy markets in the forecast period.”

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.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.