energy information administration short term outlook november 2001 1 overview the precarious worldwide economic situation has generally dampened expectations for strong demand growth in near prices have with exception of natural gas drifted lower over last month we expect monthly average crude oil to stabilize current levels until next spring some upward drift second half 2002 if us and world recovers markets west texas intermediate wti spot price averaged 22 60 per barrel october 4 below september nearly 11 estimated 2000 figure although believe that downward momentum enhanced lately by weakening is likely be arrested efforts opec restrain output are expected about 2 through forecast period than anticipated now 75 7 million barrels day up only 400 000 from revised 3
