Tag: EIA

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.

Data from the Energy Information Administration (EIA) recently showed that exports of liquefied natural gas coming from the United States’ facilities ,marked an increase over the week ending January 29.

The Energy Information Administration (EIA) informs that U.S. liquefied natural gas (LNG) exports increase week over week for the week ending Wednesday, January 22.

The US Energy Information Administration’s (EIA) published its January Short-Term Energy Outlook (STEO), forecasting that the Brent crude oil spot price will average $65 per barrel (b) in 2020 and $68/b in 2021 and that the West Texas Intermediate (WTI) spot price will average $59/b in 2020 and $62/b in 2021.

US EIA forecasts year-over-year decreases in energy-related carbon dioxide (CO2) emissions through 2021. After decreasing by 2.1% in 2019, energy-related CO2 emissions will decrease by 2.0% in 2020 and again by 1.5% in 2021 for a third consecutive year of declines, EIA forecasts.

The U.S. Energy Information Administration’s (EIA)  U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2018 report, informs that U.S. oil and natural gas proved reserves had another record-breaking year. Specifically, in 2018, U.S. crude oil and lease condensate production increased 583 million barrels (17%) from 2017’s production level, and imports of crude oil decreased 73 million barrels (-3%) from 2017’s import level. U.S. natural gas production increased 12% (3.7 Tcf) in 2018, and natural gas imports decreased 5% (144 Bcf) from the 2017 level.

EIA marks 2019 as the year with the lowest natural gas prices for the past three years, as although monthly average natural gas prices at most key regional trading hubs in 2019 reached their highest levels in February, and they were relatively low and stable from April through December.

EIA expects a 2.2% decline in CO2 emissions for 2019, in comparison to a 2.7% increase in U.S. energy-related carbon dioxide (CO2) emissions in 2018; The decrease will be the result of fewer emissions from coal consumption.

The U.S. Energy Information Administration (EIA) in its recent natural gas update, showed that Europe's imports of liquefied natural gas (LNG) have marked a steady increase since last October, while have set a new monthly record of 12.7 billion cubic feet per day (Bcf/d) for November 2019.