November 2010 Vol. 237 No. 11

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EIA Releases Winter Energy Outlook: Predicts WTI Oil $83/Barrel

The U.S. Energy Information Administration released new short-term outlook figures Nov. 9, predicting some changes in prices and conditions in the energy market. The report projects that the price of West Texas Intermediate (WTI) crude oil will average about $83 per barrel this winter (October 1 to March 31), a $5.50-per-barrel increase over last winter and $3 per barrel more than in last month’s outlook. Other highlights of the report include: Projected WTI prices rise gradually to $87 per barrel by the fourth quarter of 2011 as U.S. and global economic conditions improve. EIA’s forecast assumes U.S. gross domestic product (GDP) grows by 2.6 percent in 2010 and

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