According to its December STEO, the EIA now sees the WTI spot price averaging $77.63 per barrel in 2023 and $78.07 per barrel in 2024. The EIA projects that the WTI spot price will come in at $78.82 per barrel in the fourth quarter of 2023, $78.80 per barrel in the first quarter of 2024, $79.53 per barrel in the second quarter, $77.50 per barrel in the third quarter, and $76.50 per barrel in the fourth quarter, the December STEO shows.
