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US EIA lowers forecast for 2016 oil prices yet again

US EIA lowers forecast for 2016 oil prices yet again

In their monthly Short Term Energy Outlook, the EIA revised their 2016 forecast for Brent to just US$34/bbl for 2016 and US$40/bbl for 2017. The agency expects West Texas Intermediate and Brent to trade roughly at par.

Crude oil production is expected to come down to 8.7 million bbl/day in 2016, down from an average of 9.4 million bbl/day last year. The US produced an estimated 9.1 million bbl/day in January. The EIA also noted that power generated from natural gas will exceed coal this year for the first time in US history.

US and Canada agree to lower methane emission targets

US and Canada agree to lower methane emission targets

Teck remains committed to Fort Hills and has no plans to sell out to Suncor

Teck remains committed to Fort Hills and has no plans to sell out to Suncor