EIA

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US LNG exports see weekly increase

According to EIA, the liquefied natural gas exports from the US rose over the week ending September 4, as 12 LNG tankers had departed from US facilities, all of them carrying capacity of 43 billion cubic feet of LNG, increased by four cargoes in comparison to the previous week. 

US LNG exports to Europe grow

US exports of LNG have been growing continuously and reached a new peak of 4.7 billion cubic feet per day in May 2019, according to the latest data published by the US Department of Energy’s Office of Fossil Energy. In 2019, the US became the world’s third-largest LNG exporter, averaging 4.2 Bcf/d in the first five months of the year.

Suez Canal a critical chokepoint for oil and natural gas trade

As EIA informs, the Suez Canal and the SUMED Pipeline are strategic routes for Persian Gulf crude oil, petroleum products, and LNG shipments to Europe and North America. Located in Egypt, the Suez Canal connects the Red Sea with the Mediterranean Sea, and is considered as a key chokepoint due to the large volumes of energy commodities that flow through it.

Summer natural gas prices to be the lowest in last 20 years

In its July 2019 Short-Term Energy Outlook, the US Energy Information Administration expects Henry Hub natural gas spot prices for June, July, and August this year to average $2.37 per million British thermal units. If this happens, this price would be the lowest summer average Henry Hub natural gas price since 1998.

Vaca Muerta gas production rise results to Argentinian LNG exports

According to EIA, Argentina’s domestic natural gas production has been steadily increasing in the past three years, due to the increased production coming from the Neuquén Basin’s Vaca Muerta shale and tight gas play. Its production surpassed the 1 billion cubic feet per day (Bcf/d) in December 2018.

Lower global economic growth reduces expectations on 2019 global oil demand

EIA forecasts that global liquid fuels consumption, which averaged 99.9 million b/d in 2018, will increase by 1.1 million b/d in 2019 and by 1.4 million b/d in 2020. EIA’s global oil consumption forecast is based on global gross domestic product, depending on country-level forecasts from Oxford Economics.

US crude oil production achieves record in April 2019

According to EIA, the US crude oil production and lease condensate, accomplished a milestone in April 2019, with 12.2 million barrels per day. April 2019 is the first time that monthly US crude oil production surpassed the 12 million bpd. This record follows August’s 2018 record, when US crude oil production surpassed the 11 million bdp.

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