Major U.S. tight oil-producing states expected to drive production gains through 2018

In EIA’s January "Short-Term Energy Outlook", U.S. crude oil production is forecast to increase from an average of 8.9 million barrels per day (b/d) in 2016 to an average of 9.3 million b/d in 2018, primarily as a result of gains in the major U.S. tight oil-producing states: Texas, North Dakota, Oklahoma, and New Mexico. More »

Natural gas-fired generating capacity likely to increase over next two years

The electricity industry is planning to increase natural gas-fired generating capacity by 11.2 gigawatts (GW) in 2017 and 25.4 GW in 2018, based on information reported to EIA. If these plants come online as planned, annual net additions in natural gas capacity would be at their highest levels since 2005. More »

EIA’s weekly natural gas storage data now include measures of sampling variability

Starting with the release of data for the week ending January 20, 2017, EIA’s Weekly Natural Gas Storage Report (WNGSR) now provides information about the statistical properties of published estimates of weekly working natural gas levels and their net changes. The methodology for the storage data itself, however, is unchanged. More »

Strategic Petroleum Reserve sales expected to start this month

Yesterday the U.S. Department of Energy's (DOE) Office of Fossil Energy awarded contracts for the first of several sales of crude oil from the Strategic Petroleum Reserve (SPR). A Continuing Resolution enacted in December 2016 included a provision for DOE to sell up to $375.4 million in crude oil from the SPR. This sale will be the first of several planned sales totaling nearly 190 million barrels during fiscal years 2017 through 2025. More »

Global crude oil balances expected to tighten through 2018

In fiscal year (FY) 2016, the U.S. government collected almost $6 billion in revenues from royalties, rental costs, and other fees from activities related to energy production on federal and American Indian lands, according to the Department of Interior’s Office of Natural Resource Revenue. These activities include the production of coal, oil, natural gas, and hydrocarbon gas liquids (HGLs) as well as, more recently, renewables. More »

With low oil prices in 2016, federal revenues from energy on federal lands again declined

In fiscal year (FY) 2016, the U.S. government collected almost $6 billion in revenues from royalties, rental costs, and other fees from activities related to energy production on federal and American Indian land, according to the Department of Interior’s Office of Natural Resource Revenue. These activities include the production of coal, oil, natural gas, and hydrocarbon gas liquids (HGLs) as well as, more recently, renewables. More »

Natural gas prices in 2017 and 2018 are expected to be higher than last year

In its January 2017 Short-Term Energy Outlook (STEO), EIA expects the Henry Hub natural gas spot price to average $3.55 per million British thermal units (MMBtu) in 2017 and $3.73/MMBtu in 2018, both higher than the 2016 average of $2.51/MMBtu. Higher prices in 2017 and 2018 reflect natural gas consumption and exports exceeding supply and imports, leading to lower average inventory levels. More »

Power sector carbon dioxide emissions fall below transportation sector emissions

U.S. carbon dioxide (CO2) emissions from the transportation sector reached 1,893 million metric tons (MMmt) from October 2015 through September 2016, exceeding electric power sector CO2 emissions of 1,803 MMmt over the same time period. More »

Natural gas-fired power plants lead electric capacity additions in Mexico

U.S. production of ethane is expected to increase from an average of 1.25 million barrels per day (b/d) in 2016 to 1.7 million b/d in 2018 according to EIA’s latest Short-Term Energy Outlook (STEO). Increased ethane production is expected to be consumed in the petrochemical industry domestically as well as exported to other countries. More »

Natural gas prices in 2016 were the lowest in nearly 20 years

Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December. More »

Crude oil prices expected to increase slightly through 2017 and 2018

The U.S. Energy Information Administration's January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018. More »

Wholesale power prices in 2016 fell, reflecting lower natural gas prices

Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England. More »

Renewable generation capacity expected to account for most 2016 capacity additions

Once final data are in, EIA expects 24 gigawatts (GW) of new generating capacity to be added to the power grid during 2016. For the third consecutive year, nearly two-thirds of these additions are renewable technologies, especially wind and solar. More »

Coal production declines in 2016, with average coal prices below their 2015 level

U.S. coal production in 2016 is expected to total 743 million short tons (MMst), 17% lower than in 2015, and the lowest level since 1978. Falling production in 2016 continues an eight-year decline from peak production in 2008. More »

U.S. gasoline prices in 2016 were the lowest since 2004

U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline prices. In 9 of the 10 cities for which EIA collects weekly retail price data, gasoline prices did not exceed $3.00/gal. More »

EIA's AEO2017 projects the United States to be net energy exporter in most cases

EIA's Annual Energy Outlook 2017 (AEO2017), which will be released this morning, presents updated projections for U.S. energy markets through 2050 based on eight cases. This is the first time that EIA is publishing projections through 2050 in the AEO tables. More »

Crude oil prices increased in 2016, still below 2015 averages

Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the year up $17 from the end of 2015, at $54/b, but the 2016 annual average of $44/b was $8 below the 2015 average. More »

Energy commodity prices rose more than other commodity sectors in 2016

The spot energy index in the S&P Goldman Sachs Commodity Index (GSCI) rose 48% since the start of 2016, more than any other commodity group in the S&P GSCI. The spot S&P GSCI industrial metals, precious metals, and agriculture indices increased less, rising 22%, 8%, and 5%, respectively, while the spot S&P GSCI livestock index declined 10%. More »