EIA: Oil Prices Expected to Rise as Global Production Declines:
The U.S. Energy Information Administration (EIA) forecasts a rise in
oil prices during the third quarter of this year,
supported by a decline in global oil inventories and lower production in Iran and Venezuela.

Content
Fitch Agency

EIA

Fitch Agency: Boeing Regains Production Momentum, Stock Rises on Positive Outlook

Fitch Ratings confirmed on Tuesday that American aerospace
company Boeing has started regaining production momentum
after overcoming the strike that previously impacted its operations.
The agency highlighted a significant improvement in supply
chain management and a reduction in accumulated inventory.

According to Fitch, these developments enhance Boeing’s chances
of reaching a production rate of 38 aircraft per month by the third quarter of this year,
signaling an operational recovery and the company’s ability to overcome past delivery delays.

Fitch emphasized that managing supply chain challenges
and improving production efficiency will be critical for stabilizing the aviation sector,
especially as demand for commercial aircraft grows
and the global aviation market has recovered from the slowdown in recent years.

This positive outlook directly boosted Boeing’s stock performance,
pushing it up by 1.45% (equivalent to $2.23 per share)
to reach $150.41 in today’s trading.
Optimism about the company’s ability fueled this increase.
to improve its operations and achieve its planned production targets for the year.

EIA: Oil Prices Expected to Rise as Global Production Declines

The U.S. Energy Information Administration (EIA) expects oil prices to rise in the third quarter of this year,
driven by declining global oil inventories and reduced production in Iran and Venezuela.

According to the Short-Term Energy Outlook report released Tuesday,
Brent crude prices are expected to average $75 per barrel in the third quarter,
marking a 1.4% increase from previous estimates.
Meanwhile, U.S. crude prices are projected to rise to $71.5 per barrel, up 2.1% from prior forecasts.

The EIA revised its global oil production forecast by 0.6%
to 104.5 million barrels per day in Q3. OPEC+ production
is expected to remain steady at 42.9 million barrels per day,
while U.S. production is set to decline slightly to 13.64 million barrels per day.

On the demand side, global oil consumption is projected to increase to 104.5 million barrels per day in Q3,
compared to 103.7 million barrels per day in Q2.
The EIA also forecasts U.S. electricity consumption to grow by 3% this year,
up from a previous estimate of 2%.

Regarding natural gas, analysts expect the Henry Hub benchmark price to rise.
to average $4.20 per million British thermal units (MMBtu),
an 11% increase from prior estimates.
Rising consumption amid low inventory levels will drive this increase.

The EIA also noted that its forecasts consider the tariffs imposed
by the U.S. and China on energy products, which have been in effect since February.
These tariffs could impact global energy trade flows.

EIA: Oil Prices Expected to Rise as Global Production Declines

EIA: Oil Prices Expected to Rise as Global Production Declines

Related Topics