Tag: EIA

According to EIA, U.S. crude oil exports hit a record high in 2022 as releases from the Strategic Petroleum Reserve (SPR). U.S. crude oil exports averaged a record 3.6 million barrels per day (b/d) in 2022, a 22% increase (640,000 b/d) from 2021.

In its January Short-Term Energy Outlook (STEO), US EIA expects the price of Brent crude oil to increase from its December 2020 average of $50 per barrel to an average of $56/b in the first quarter of 2021. The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022. This comes as EIA expects global demand for petroleum liquids to be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. Specifically, EIA expects that growth in crude oil production from members of the OPEC and partner countries (OPEC+) will be limited because of a multilateral agreement to limit production. Saudi Arabia announced that it would voluntarily cut production by an additional 1.0 million b/d during February and March. Even with this cut, EIA expects OPEC to produce more oil than it did last year, forecasting that crude oil production from OPEC will average 27.2 million b/d in 2021, up from an estimated 25.6 million b/d in 2020. Meanwhile, EIA forecasts that US crude oil production in the Lower 48 states—excluding the Gulf of Mexico—will decline in the first quarter of 2021 before increasing through the end of ...

Port of Rotterdam reported that according to the provisional advice of the Commission for Environmental Impact Assessment (EIA), several points of the EIA for Porthos are incomplete. 

Although daily natural gas deliveries to U.S. facilities that produce LNG for export were a record 9.8 billion cubic feet per day (Bcf/d) in late March 2020, deliveries fell to less than 4.0 Bcf/d in June, EIA reported.

Producers were operating the fewest oil and natural gas drilling rigs on record in the US at 339 on May 12, according to EIA. This is the lowest rig count data since 1987.

The US Energy Information Administration (EIA) has focused on several underlying assumptions about OPEC’s posture regarding targeted production output and what effect it may have on global oil balances and prices.

The US Energy Information Administration’s (EIA) Annual Energy Outlook 2020 (AEO2020) projects that US biofuel production will slowly increse through 2050, mainly driven by economic and policy factors.

The US Energy Information Administration reported that the US natural gas consumption rose by 3% in 2019, achieving a record of 85.0 billion cubic feet per day (Bcf/d). The increase was due to new natural gas-fired electric capacity and lower natural gas prices.

By augmenting the relatively light domestic crude oil production with relatively heavy crude oil imports, the United States has significantly increased its ability to export refined product, according to the US EIA.

The US Energy Information Administration (EIA) in its latest February Short-Term energy outlook, estimates that the Lower 48 states’ working natural gas in storage will end in 2019-2020 winter heating season, at 1.935 billion cubic feet, meaning 12% more inventory in comparison to the previous five-year average.