Savion, Enbridge, EIA Oil Price Forecast: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
EIA Expects Price Pressure on Oil in 2025, 2026 from Oversupply - Oil prices will be under pressure over the next two years as global production growth outpaces demand, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short-Term Energy Outlook report. Many analysts expect an oversupplied oil market this year, after demand growth slowed sharply in 2024 in the biggest energy-consuming countries: the U.S. and China. The EIA said it expects Brent crude oil prices to fall 8% to average $74 a barrel in 2025, then fall further to $66 a barrel in 2026. (Reuters)

POWER
Savion Starts Up Solar Plant at Former Kentucky Coal Mine - Solar and energy storage developer Savion LLC (Kansas City, Missouri) has launched commercial operations of its 111-megawatt Martin County Solar Project in Pilgrim, Kentucky. The facility is built on a reclaimed coal mine site. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Renewables Now)

CORPORATE
Enbridge Defeats Lawsuit Over Crude Oil Transport - An Illinois federal judge on Monday dismissed a lawsuit accusing pipeline operator Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta) of blocking a rival from building a terminal to ship Canadian crude oil by barge from the Chicago area to refineries in the Midwest and the Gulf of Mexico. U.S. District Judge April Perry in Chicago ruled that plaintiff Ducere LLC (Warrenville, Illinois) had failed to adequately allege that Enbridge was violating antitrust laws. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).