American Oil and Gas Reporter - January 2025 - 42

Outlook 2025
LNG and Data Center Demand,
International Wildcards
Top 2025 Demand Drivers
By Dennis Kissler and Cristina Stellar
TULSA-Price volatility is an inherent part of the business of
oil and gas. Over the past four years, West Texas Intermediate
crude oil closed as low as $52.00 a barrel and as high as
$114.84, but averaged in the $70s-$80s through most of 2024.
Natural gas spot prices on the Henry Hub ranged from $1.49 to
$8.81, and floundered through much of 2024 at historical lows.
Understandably, as the energy industry looks to 2025, the
prevailing question is: " What will happen to oil and gas prices? "
The answer is, of course, it depends. As usual, there are many
wildcards in both sectors. Nevertheless, there are some
prevailing trends that can yield some directional insights into
where prices are going.
Let's start with natural gas. Coming into 2025, natural gas
supplies remain ample. Although electricity demand was up
during the summer, it still fell short of pulling hefty natural gas
supplies down. Meanwhile, the hurricane season during the
fourth quarter damaged natural gas demand more than it
constrained supplies, especially in the case of Hurricane Milton.
Simply put, storage will need to contract substantially in what
remains of winter 2024-25 to give a significant lift to prices.
42 THE AMERICAN OIL & GAS REPORTER

American Oil and Gas Reporter - January 2025

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2025

Contents
American Oil and Gas Reporter - January 2025 - Intro
American Oil and Gas Reporter - January 2025 - Cover1
American Oil and Gas Reporter - January 2025 - Cover2
American Oil and Gas Reporter - January 2025 - 3
American Oil and Gas Reporter - January 2025 - 4
American Oil and Gas Reporter - January 2025 - Contents
American Oil and Gas Reporter - January 2025 - 6
American Oil and Gas Reporter - January 2025 - 7
American Oil and Gas Reporter - January 2025 - 8
American Oil and Gas Reporter - January 2025 - 9
American Oil and Gas Reporter - January 2025 - 10
American Oil and Gas Reporter - January 2025 - 11
American Oil and Gas Reporter - January 2025 - 12
American Oil and Gas Reporter - January 2025 - 13
American Oil and Gas Reporter - January 2025 - 14
American Oil and Gas Reporter - January 2025 - 15
American Oil and Gas Reporter - January 2025 - 16
American Oil and Gas Reporter - January 2025 - 17
American Oil and Gas Reporter - January 2025 - 18
American Oil and Gas Reporter - January 2025 - 19
American Oil and Gas Reporter - January 2025 - 20
American Oil and Gas Reporter - January 2025 - 21
American Oil and Gas Reporter - January 2025 - 22
American Oil and Gas Reporter - January 2025 - 23
American Oil and Gas Reporter - January 2025 - 24
American Oil and Gas Reporter - January 2025 - 25
American Oil and Gas Reporter - January 2025 - 26
American Oil and Gas Reporter - January 2025 - 27
American Oil and Gas Reporter - January 2025 - 28
American Oil and Gas Reporter - January 2025 - 29
American Oil and Gas Reporter - January 2025 - 30
American Oil and Gas Reporter - January 2025 - 31
American Oil and Gas Reporter - January 2025 - 32
American Oil and Gas Reporter - January 2025 - 33
American Oil and Gas Reporter - January 2025 - 34
American Oil and Gas Reporter - January 2025 - 35
American Oil and Gas Reporter - January 2025 - 36
American Oil and Gas Reporter - January 2025 - 37
American Oil and Gas Reporter - January 2025 - 38
American Oil and Gas Reporter - January 2025 - 39
American Oil and Gas Reporter - January 2025 - 40
American Oil and Gas Reporter - January 2025 - 41
American Oil and Gas Reporter - January 2025 - 42
American Oil and Gas Reporter - January 2025 - 43
American Oil and Gas Reporter - January 2025 - 44
American Oil and Gas Reporter - January 2025 - 45
American Oil and Gas Reporter - January 2025 - 46
American Oil and Gas Reporter - January 2025 - 47
American Oil and Gas Reporter - January 2025 - 48
American Oil and Gas Reporter - January 2025 - 49
American Oil and Gas Reporter - January 2025 - 50
American Oil and Gas Reporter - January 2025 - 51
American Oil and Gas Reporter - January 2025 - 52
American Oil and Gas Reporter - January 2025 - 53
American Oil and Gas Reporter - January 2025 - 54
American Oil and Gas Reporter - January 2025 - 55
American Oil and Gas Reporter - January 2025 - 56
American Oil and Gas Reporter - January 2025 - 57
American Oil and Gas Reporter - January 2025 - 58
American Oil and Gas Reporter - January 2025 - 59
American Oil and Gas Reporter - January 2025 - 60
American Oil and Gas Reporter - January 2025 - 61
American Oil and Gas Reporter - January 2025 - 62
American Oil and Gas Reporter - January 2025 - 63
American Oil and Gas Reporter - January 2025 - 64
American Oil and Gas Reporter - January 2025 - 65
American Oil and Gas Reporter - January 2025 - 66
American Oil and Gas Reporter - January 2025 - 67
American Oil and Gas Reporter - January 2025 - 68
American Oil and Gas Reporter - January 2025 - 69
American Oil and Gas Reporter - January 2025 - 70
American Oil and Gas Reporter - January 2025 - 71
American Oil and Gas Reporter - January 2025 - 72
American Oil and Gas Reporter - January 2025 - 73
American Oil and Gas Reporter - January 2025 - 74
American Oil and Gas Reporter - January 2025 - 75
American Oil and Gas Reporter - January 2025 - 76
American Oil and Gas Reporter - January 2025 - 77
American Oil and Gas Reporter - January 2025 - 78
American Oil and Gas Reporter - January 2025 - 79
American Oil and Gas Reporter - January 2025 - 80
American Oil and Gas Reporter - January 2025 - 81
American Oil and Gas Reporter - January 2025 - 82
American Oil and Gas Reporter - January 2025 - 83
American Oil and Gas Reporter - January 2025 - 84
American Oil and Gas Reporter - January 2025 - 85
American Oil and Gas Reporter - January 2025 - 86
American Oil and Gas Reporter - January 2025 - 87
American Oil and Gas Reporter - January 2025 - 88
American Oil and Gas Reporter - January 2025 - 89
American Oil and Gas Reporter - January 2025 - 90
American Oil and Gas Reporter - January 2025 - 91
American Oil and Gas Reporter - January 2025 - 92
American Oil and Gas Reporter - January 2025 - 93
American Oil and Gas Reporter - January 2025 - 94
American Oil and Gas Reporter - January 2025 - 95
American Oil and Gas Reporter - January 2025 - 96
American Oil and Gas Reporter - January 2025 - 97
American Oil and Gas Reporter - January 2025 - 98
American Oil and Gas Reporter - January 2025 - 99
American Oil and Gas Reporter - January 2025 - 100
American Oil and Gas Reporter - January 2025 - 101
American Oil and Gas Reporter - January 2025 - 102
American Oil and Gas Reporter - January 2025 - 103
American Oil and Gas Reporter - January 2025 - 104
American Oil and Gas Reporter - January 2025 - 105
American Oil and Gas Reporter - January 2025 - 106
American Oil and Gas Reporter - January 2025 - Cover3
American Oil and Gas Reporter - January 2025 - Cover4
https://www.nxtbook.com/nxtbooks/aogr/202501
https://www.nxtbook.com/nxtbooks/aogr/202412
https://www.nxtbook.com/nxtbooks/aogr/202411
https://www.nxtbook.com/nxtbooks/aogr/202410
https://www.nxtbook.com/nxtbooks/aogr/202409
https://www.nxtbook.com/nxtbooks/aogr/202408
https://www.nxtbook.com/nxtbooks/aogr/202407
https://www.nxtbook.com/nxtbooks/aogr/202406
https://www.nxtbook.com/nxtbooks/aogr/202405
https://www.nxtbook.com/nxtbooks/aogr/202404
https://www.nxtbook.com/nxtbooks/aogr/202403
https://www.nxtbook.com/nxtbooks/aogr/202402
https://www.nxtbook.com/nxtbooks/aogr/202401
https://www.nxtbook.com/nxtbooks/aogr/202312
https://www.nxtbook.com/nxtbooks/aogr/202311
https://www.nxtbook.com/nxtbooks/aogr/pbios_202310
https://www.nxtbook.com/nxtbooks/aogr/202309
https://www.nxtbook.com/nxtbooks/aogr/202308
https://www.nxtbook.com/nxtbooks/aogr/202307
https://www.nxtbook.com/nxtbooks/aogr/202306
https://www.nxtbook.com/nxtbooks/aogr/202305
https://www.nxtbook.com/nxtbooks/aogr/202304
https://www.nxtbook.com/nxtbooks/aogr/202303
https://www.nxtbook.com/nxtbooks/aogr/202302
https://www.nxtbook.com/nxtbooks/aogr/202301
https://www.nxtbook.com/nxtbooks/aogr/202212
https://www.nxtbook.com/nxtbooks/aogr/202211
https://www.nxtbook.com/nxtbooks/aogr/202210
https://www.nxtbook.com/nxtbooks/aogr/202209
https://www.nxtbook.com/nxtbooks/aogr/202208
https://www.nxtbook.com/nxtbooks/aogr/202207
https://www.nxtbook.com/nxtbooks/aogr/202206
https://www.nxtbook.com/nxtbooks/aogr/202205
https://www.nxtbook.com/nxtbooks/aogr/202204
https://www.nxtbook.com/nxtbooks/aogr/202203
https://www.nxtbook.com/nxtbooks/aogr/202202
https://www.nxtbook.com/nxtbooks/aogr/202201
https://www.nxtbook.com/nxtbooks/aogr/202112
https://www.nxtbook.com/nxtbooks/aogr/202111
https://www.nxtbook.com/nxtbooks/aogr/pbios_202110
https://www.nxtbook.com/nxtbooks/aogr/202109
https://www.nxtbook.com/nxtbooks/aogr/202108
https://www.nxtbook.com/nxtbooks/aogr/202107
https://www.nxtbook.com/nxtbooks/aogr/202106
https://www.nxtbook.com/nxtbooks/aogr/202105
https://www.nxtbook.com/nxtbooks/aogr/202104
https://www.nxtbook.com/nxtbooks/aogr/202103
https://www.nxtbook.com/nxtbooks/aogr/202102
https://www.nxtbook.com/nxtbooks/aogr/202101
https://www.nxtbook.com/nxtbooks/aogr/202012
https://www.nxtbook.com/nxtbooks/aogr/202011
https://www.nxtbook.com/nxtbooks/aogr/202010
https://www.nxtbook.com/nxtbooks/aogr/202009
https://www.nxtbook.com/nxtbooks/aogr/202008
https://www.nxtbook.com/nxtbooks/aogr/202007
https://www.nxtbook.com/nxtbooks/aogr/202006
https://www.nxtbook.com/nxtbooks/aogr/202005
https://www.nxtbook.com/nxtbooks/aogr/202004
https://www.nxtbook.com/nxtbooks/aogr/202003
https://www.nxtbook.com/nxtbooks/aogr/202002
https://www.nxtbook.com/nxtbooks/aogr/202001
https://www.nxtbook.com/nxtbooks/aogr/201912
https://www.nxtbook.com/nxtbooks/aogr/201911
https://www.nxtbook.com/nxtbooks/aogr/201910
https://www.nxtbook.com/nxtbooks/aogr/201909
https://www.nxtbook.com/nxtbooks/aogr/201908
https://www.nxtbook.com/nxtbooks/aogr/201907
https://www.nxtbook.com/nxtbooks/aogr/201906
https://www.nxtbook.com/nxtbooks/aogr/201905
https://www.nxtbook.com/nxtbooks/aogr/201904
https://www.nxtbook.com/nxtbooks/aogr/201903
https://www.nxtbook.com/nxtbooks/aogr/201902
https://www.nxtbook.com/nxtbooks/aogr/201901
https://www.nxtbook.com/nxtbooks/aogr/201812
https://www.nxtbook.com/nxtbooks/aogr/201811
https://www.nxtbook.com/nxtbooks/aogr/201810
https://www.nxtbook.com/nxtbooks/aogr/pbios_201810
https://www.nxtbook.com/nxtbooks/aogr/201809
https://www.nxtbook.com/nxtbooks/aogr/201808
https://www.nxtbook.com/nxtbooks/aogr/201807
https://www.nxtbook.com/nxtbooks/aogr/201806
https://www.nxtbook.com/nxtbooks/aogr/201805
https://www.nxtbook.com/nxtbooks/aogr/201804
https://www.nxtbook.com/nxtbooks/aogr/201803
https://www.nxtbook.com/nxtbooks/aogr/201802
https://www.nxtbook.com/nxtbooks/aogr/201801
https://www.nxtbook.com/nxtbooks/aogr/201712
https://www.nxtbook.com/nxtbooks/aogr/201711
https://www.nxtbook.com/nxtbooks/aogr/201710
https://www.nxtbook.com/nxtbooks/aogr/201709
https://www.nxtbook.com/nxtbooks/aogr/201708
https://www.nxtbook.com/nxtbooks/aogr/201707
https://www.nxtbook.com/nxtbooks/aogr/201706
https://www.nxtbook.com/nxtbooks/aogr/201705
https://www.nxtbook.com/nxtbooks/aogr/201704
https://www.nxtbook.com/nxtbooks/aogr/201703
https://www.nxtbook.com/nxtbooks/aogr/201702
https://www.nxtbook.com/nxtbooks/aogr/201701
https://www.nxtbook.com/nxtbooks/aogr/201612
https://www.nxtbook.com/nxtbooks/aogr/201611
https://www.nxtbook.com/nxtbooks/aogr/201610
https://www.nxtbook.com/nxtbooks/aogr/pbios2016_programguide
https://www.nxtbook.com/nxtbooks/aogr/201609
https://www.nxtbook.com/nxtbooks/aogr/201608
https://www.nxtbook.com/nxtbooks/aogr/201607
https://www.nxtbook.com/nxtbooks/aogr/201606
https://www.nxtbook.com/nxtbooks/aogr/201605
https://www.nxtbook.com/nxtbooks/aogr/201604
https://www.nxtbook.com/nxtbooks/aogr/201603
https://www.nxtbook.com/nxtbooks/aogr/201602
https://www.nxtbook.com/nxtbooks/aogr/201601
https://www.nxtbook.com/nxtbooks/aogr/201512
https://www.nxtbook.com/nxtbooks/aogr/201511
https://www.nxtbook.com/nxtbooks/aogr/201510
https://www.nxtbook.com/nxtbooks/aogr/201509
https://www.nxtbook.com/nxtbooks/aogr/201508
https://www.nxtbook.com/nxtbooks/aogr/201507
https://www.nxtbook.com/nxtbooks/aogr/201506
https://www.nxtbook.com/nxtbooks/aogr/201505
https://www.nxtbook.com/nxtbooks/aogr/201504
https://www.nxtbook.com/nxtbooks/aogr/201503
https://www.nxtbook.com/nxtbooks/aogr/201502
https://www.nxtbook.com/nxtbooks/aogr/201501
https://www.nxtbook.com/nxtbooks/aogr/201412
https://www.nxtbook.com/nxtbooks/aogr/201411
https://www.nxtbook.com/nxtbooks/aogr/201410
https://www.nxtbook.com/nxtbooks/aogr/201409
https://www.nxtbook.com/nxtbooks/aogr/pbios2014_programguide
https://www.nxtbook.com/nxtbooks/aogr/201408
https://www.nxtbook.com/nxtbooks/aogr/201407
https://www.nxtbook.com/nxtbooks/aogr/201406
https://www.nxtbook.com/nxtbooks/aogr/201405
https://www.nxtbook.com/nxtbooks/aogr/201404
https://www.nxtbook.com/nxtbooks/aogr/201403
https://www.nxtbook.com/nxtbooks/aogr/201402
https://www.nxtbook.com/nxtbooks/aogr/201401
https://www.nxtbook.com/nxtbooks/aogr/201312
https://www.nxtbook.com/nxtbooks/aogr/201311
https://www.nxtbook.com/nxtbooks/aogr/201310
https://www.nxtbook.com/nxtbooks/aogr/201309
https://www.nxtbook.com/nxtbooks/aogr/201308
https://www.nxtbook.com/nxtbooks/aogr/201307
https://www.nxtbook.com/nxtbooks/aogr/201306
https://www.nxtbook.com/nxtbooks/aogr/201305
https://www.nxtbook.com/nxtbooks/aogr/201304
https://www.nxtbook.com/nxtbooks/aogr/201303
https://www.nxtbook.com/nxtbooks/aogr/201302
https://www.nxtbook.com/nxtbooks/aogr/201301
https://www.nxtbook.com/nxtbooks/aogr/201212
https://www.nxtbook.com/nxtbooks/aogr/201211
https://www.nxtbook.com/nxtbooks/aogr/201210
https://www.nxtbook.com/nxtbooks/aogr/201209
https://www.nxtbook.com/nxtbooks/aogr/2012_pbios
https://www.nxtbook.com/nxtbooks/aogr/201208
https://www.nxtbook.com/nxtbooks/aogr/201207
https://www.nxtbook.com/nxtbooks/aogr/201206
https://www.nxtbook.com/nxtbooks/aogr/201205
https://www.nxtbook.com/nxtbooks/aogr/201204
https://www.nxtbook.com/nxtbooks/aogr/201203
https://www.nxtbook.com/nxtbooks/aogr/201202
https://www.nxtbook.com/nxtbooks/aogr/201201
https://www.nxtbook.com/nxtbooks/demo/aogr_clone
https://www.nxtbook.com/nxtbooks/aogr/201112
https://www.nxtbookmedia.com