United States Energy Information Administration Forecasts Continued Growth In Domestic Oil Production with Higher Well Productivity In The Near Term
Portfolio Pulse from Benzinga Newsdesk
The U.S. Energy Information Administration (EIA) forecasts growth in U.S. crude oil production to surpass 12.9 million barrels per day in late 2023 and exceed 13 million barrels per day in early 2024. This is due to sustained global petroleum demand and rising prices. EIA also expects Brent crude oil price to approach $90 per barrel in late 2023. Companies mentioned include Prairie Operating Co., Chevron Corporation, Occidental Petroleum Corporation, EOG Resources, Inc., and Berkshire Hathaway Inc.
September 18, 2023 | 12:46 pm
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Berkshire Hathaway Inc., which has investments in energy companies, may indirectly benefit from the forecasted growth in U.S. crude oil production.
Berkshire Hathaway Inc., as an investment company with holdings in energy companies, may see indirect benefits from increased oil production and rising prices.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Prairie Operating Co. may benefit from the forecasted growth in U.S. crude oil production.
As an oil company, Prairie Operating Co. stands to benefit from increased oil production and rising prices.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Chevron Corporation may benefit from the forecasted growth in U.S. crude oil production.
As an oil company, Chevron Corporation stands to benefit from increased oil production and rising prices.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
EOG Resources, Inc. may benefit from the forecasted growth in U.S. crude oil production.
As an oil company, EOG Resources, Inc. stands to benefit from increased oil production and rising prices.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Occidental Petroleum Corporation may benefit from the forecasted growth in U.S. crude oil production.
As an oil company, Occidental Petroleum Corporation stands to benefit from increased oil production and rising prices.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70