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.
The Energy Information Administration recently issued its Annual Energy Outlook 2020 (AEO2020) highlighting that the total US dry gas production will continue growing until 2050, giving a boost to the US exports of natural gas to the shipping market globally.
The coronavirus has caused major disruption in the oil sector, as now the Energy Information Administration (EIA) states that the global liquid fuels demand will average 101.7 million barrels per day in 2020.
The US Energy Information Administration cut its global oil demand growth forecast for 2020 by 310,000 barrels per day (bpd) as the coronavirus outbreak impedes oil consumption in China, the world’s second biggest economy.
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