CALGARY, Alberta (August 12, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages Generative AI across its solutions, has released its latest Fundamental Edge report.
EIR’s report provides a comprehensive outlook on oil and gas prices, examining key drivers including China’s oil purchasing strategy and demand trends, the U.S. natural gas price trajectory, domestic oil and gas supply forecasts, and developments in the global LNG market.
“China has buoyed oil markets in 2Q25 by aggressively purchasing oil for its reserves. Had Beijing not done this, oil balances would have been much looser, leading to OECD crude and product builds and likely lower oil prices. However, such support seems to be fading as the pace Chinese oil purchases/imports appear to be slowing, yielding future downside risk to price,” said Al Salazar, report author and director at EIR.
“Large gas injections into storage over 1H25, coupled with resilient natural gas production, which briefly hit an all-time high of 109 Bcf/d, has led to a recent gas price sell-off. EIR has consistently identified this as a risk for months. However, further downside risks appear limited as gas-fired generation appears to be strengthening.”
Key takeaways from the report:
- EIR maintains it Brent price forecast as OECD crude and product stocks continue to build through July, global trade uncertainty re-surfaced and China appears to have slowed down its pace of oil imports for stockpiling purposes.
- EIR altered its summer NYMEX Henry Hub gas price forecast to $3.20/MMBtu due to the high storage injections and resilient outperforming L48 gas production. We maintain our $3.85/MMBtu forecast for winter 2025-26.
- Based on this modeling, EIR expects drilling to decline as operators lay down rigs because of soft commodity price. U.S. oil production at the end of this year is likely to hold flat to December 2024.
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About Enverus Intelligence® Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
