An increase in federal oil price estimates, reflecting Saudi Arabia's planned cuts in oil production, could trigger higher Permanent Fund dividend checks under a 'waterfall provision' in Alaska's budget. (via AlaskaBeacon)
The EIA now estimates that Brent crude — a key measure of oil prices — will average $79.54 per barrel for the rest of this year and $83.51 per barrel next year because diminished supply will cause prices to rise.
A barrel of North Slope oil was worth $75.75 per barrel on Monday; that was about a dollar below the Brent price. The two prices are closely correlated. Some of the excess earnings would also be set aside for a boost to the as-yet-unset 2024 Permanent Fund dividend.
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