This edition of Energy Perspectives includes:
- Discussion of Analysts’ views of current and 2013 forecasted prices of crude oil and natural gas
- Public trading data across the energy sector
- Recent energy sector M&A transactions
Of the twelve institutions tracked, all but one have adjusted their crude oil prices downward. Overall, oil price expectations were revised downward approximately 9% to $94.20 per barrel. The current 2013 oil price outlook for the group averages a modest price improvement to $96.00 per barrel, representing less than a 2% increase.
This group forecasts an average improvement of close to 27% for natural gas in 2013 ($3.60 per thousand cubic feet or MCF). However, this forecasted improvement may be the direct result of a 21% reduction, to $2.80 per MCF, in their forecast for 2012 since our February report. The general outlook among this group is that natural gas prices will rebound in 2013 to close to their original 2012 forecasted natural gas price of $3.70 per MCF.