Marketers’ disgust with online ad fraud has created an opening for our industry, but we’re not ready to take advantage of it. Our out-of-date, out-of-synch approaches to magazine advertising proposals are holding us back from taking advantage of this new opportunity. Judging from my interactions with advertising sales reps, they’re seeing fewer digital-only RFPs these days and more media-agnostic ones. Marketers who were in the “print is dead” camp now seem intrigued with the ability of print to engage their most valuable prospects. But simply buying ad pages in general-interest magazines is not their idea of effective targeting.
The U.S. Energy Information Administration on Wednesday raised its 2018 and 2019 price forecasts on West Texas Intermediate and Brent crude oil prices and U.S. production expectations for this year and next. In its monthly energy outlook report, the government agency forecast an average WTI price of $68.46 a barrel for this year, up 2.1% from the forecast issued in September. For 2019, it forecast $69.56, up 3.3%. The EIA also raised its average Brent forecast by 2.2% to $74.43 this year, and by 1.9% to $75.06 next year. The EIA increased the domestic crude output forecast by 0.8% to 10.74 million barrels a day this year, and lifted the 2019 view by 2.2% to 11.76 million barrels a day. November WTI crude CLX8, -1.44% was down $1.88, or 2.5%, at $73.08 a barrel. December Brent LCOZ8, -1.59% lost $1.68, or 2%, to $83.32.