• Home
  • About Us
    • Audio Edition
    • Previous Issues
    • Submissions
    • Contact Us
  • Subscribe
  • Advertise
    • Audience
    • Editorial Calendar
    • Sizes & Specs
  • Jobs
    • View Open Positions
    • List Your Job

Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

  • News
  • PBPA
    • Legislative Matters
  • Business & Analysis
  • Service Articles
    • Automation, Controls and Measurement
    • Environmental, Safety and Training
    • Fracking, Frac Sand and Water
    • Infrastructure
    • Pipe and Pipe Service
    • Technology
    • Wireline and Testing
  • Legal Articles
  • Drilling Deeper
  • Permit Map

Enverus reaffirms forecast of $100 oil by fourth quarter of 2023

July 3, 2023 by PBOG

Calgary-based Enverus Intelligence Research last week reaffirmed its belief that Brent prices for oil will reach $100 per barrel by fourth quarter.  Enverus pointed to “all-time high global oil demand, insufficient North American supply growth and OPEC intervention as key drivers that will push Brent prices to $100 per barrel in 2023Q4.”

Al Salazar, EIR senior vice president, said June 28, “We believe that oil markets are largely balanced and that we’re headed for material crude and product stock draws in the second half of the year… Record oil demand has offset supply outperformance from Russia, Iran and Venezuela.  We are sticking to our bullish price call for now and have outlined a checklist of fundamental indicators that must be met by Aug. 31, 2023, or revisions to our outlook will follow.”

Global demand hit a record consumption of 101.5 million barrels of oil per day in second quarter.

Filed Under: PBOG Newsletter

Subscribe to PBOG

Subscribe: Newsletter | Magazine

May 2025

May 2025

Read the most recent issue of PBOG on your computer, iPad, Kindle, phone or other electronic reader.

If you'd like to view our previous issues, click here.

PBOG Audio

Connect with us online.

Facebook spacer Twitter spacer LinkedIn
Privacy Policy

Cookie Policy

Permian Basin Oil and Gas Magazine

3457 Curry Lane
Abilene, TX 79606
325.673.4822
pbog@zacpubs.com

Search PBOG.com

© 2025 · Zachry Publications