Energy Information Administration Report Predicts Oil Price Increase and Growth in Renewable Diesel Production

FuelNuts & Bolts
Written By Jennifer Joslyn

The Energy Information Administration's Short-Term Energy Outlook Report highlights several predictions, including an increase in crude oil prices heading into 2024, while diesel fuel prices are expected to remain below $4 per gallon for most of that year. The report also mentions anticipated growth in U.S. renewable diesel production, despite a revised forecast due to the EPA's Renewable Fuel Standard rule, and an expected rise in natural gas prices as natural gas production declines and inventories narrow.

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Jennifer Joslyn
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