Workflow
3 Energy Companies With Rock-Solid Balance Sheet to Watch (Revised)
COPConocoPhillips(COP) ZACKS·2024-05-30 14:00

The price of West Texas Intermediate (WTI) crude oil is approaching the 80perbarrelmarkandislikelytoremainstrongthisyear.TheU.S.EnergyInformationAdministration(EIA)projectsWTIoiltoaverage80 per barrel mark and is likely to remain strong this year. The U.S. Energy Information Administration (“EIA”) projects WTI oil to average 83.05 per barrel in 2024, a notable increase from last year's 77.58.ContributingtothestrengthofcommoditypricesarevoluntaryproductioncutsfromtheOPEC+groupandongoinggeopoliticaltensions. Whilecrudepricesremainfavorable,thelikelihoodofthecommodityreaching77.58. Contributing to the strength of commodity prices are voluntary production cuts from the OPEC+ group and ongoing geopolitical tensions.  While crude prices remain favorable, the likelihood of the commodity reaching 100 per barre ...