Solar plants typically install more panel capacity relative to their inverter capacity

A solar photovoltaic (PV) system’s panel capacity is often reported in direct current (DC), while operating capacity in the United States is reported as it is delivered to the grid in alternating current (AC). For economic and engineering reasons, capacity values reported in DC typically are 10% to 30% higher than those reported in AC capacity. More »

U.S. crude oil exports increased and reached more destinations in 2017

U.S. crude oil exports grew to an average of 1.1 million barrels per day (b/d) in 2017, the second full year since restrictions on crude oil exports were removed. Crude oil exports in 2017 were nearly double the level of exports in 2016. Increased U.S. crude oil exports were supported by increasing U.S. crude oil production and expanded infrastructure. More »

The value of U.S. energy exports to Mexico exceeded import value for third year in a row

In each of the past three years, the value of U.S. energy exports to Mexico has exceeded the value of U.S. energy imports from Mexico. Energy trade between Mexico and the United States has historically been driven by Mexico�s sales of crude oil to the United States and by U.S. exports of refined petroleum products to Mexico. As the United States has reduced crude oil imports from Mexico, the trade balance has shifted. More »

Venezuela’s crude oil production declines amid economic instability

Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years. Crude oil production in Venezuela decreased from 2.3 million barrels per day (b/d) in January 2016 to 1.6 million b/d in January 2018. More »

S&P 500 implied volatility briefly surpassed that of crude oil in February

For four consecutive days in early February, stock market implied volatility surpassed crude oil price volatility for the first time since 2008. The VIX, a measure of implied volatility, or the market’s expected range of near-term price changes on Standard and Poor’s (S&P) 500 index options, closed higher than the OVX, a measure of implied volatility on crude oil options. More »

Investment in tight oil, oil sands, and deepwater drives long-term oil production growth

Upstream investment in crude oil and liquids production is highly sensitive to crude oil prices, particularly production of higher-cost resources from tight rock formations, oil sands, and offshore deepwater. In EIA’s "International Energy Outlook 2017" (IEO2017) Reference case, increasing crude oil prices lead to more investment, driving production growth in these higher-cost resources. More »