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There appears to be some welcome news on the US inflation front. Price hikes on the wholesale level were much tamer than anticipated in December, according to the latest Producer Price Index released Tuesday, indicating that inflation might not be reaccelerating as much as feared. However, Tuesday’s positive PPI report may merely be “the calm before the ...
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This edition of our Short-Term Energy Outlook (STEO) is the first to include forecasts for 2026. Macroeconomic assumptions are a key driver in the forecast. Our forecast assumes U.S. GDP will grow by 2% in both 2025 and 2026. • Global oil prices. We expect downward oil price pressures over much of the next two years, as we expect that global oil production ...