We increased our forecast prices for crude oil and petroleum products for the remainder of 2024 in our March Short-Term Energy Outlook (STEO) following the announcement that OPEC+ will extend the existing voluntary production cuts through the second quarter of 2024. […]
Source: U.S. Energy Information Administration, Petroleum Supply Monthly Earlier this month, President Biden banned U.S. imports of crude oil, refined petroleum products, natural gas, coal, and coal products that originate in Russia. The President’s executive order, however, does not […]
Source: U.S. Energy Information Administration, State Energy Data System In 2019, the top six primary energy-producing states—Texas, Pennsylvania, Wyoming, Oklahoma, West Virginia, and North Dakota—accounted for 55 quadrillion British thermal units (quads), or 55% of all of […]
Throughout much of its history, the United States has imported more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it has exported. That status changed in 2020. The U.S. Energy Information […]
In its January Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids will be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. As […]
In August 2020, the Federal Offshore Gulf of Mexico (GOM) saw its largest monthly decrease in production of crude oil since September 2008, dropping by 453,000 barrels per day (b/d), or 27%. Production of crude […]
EIA The U.S. Energy Information Administration (EIA) has released new structure and thickness maps for the Wolfcamp play in the Midland Basin, which is a part of the larger Permian Basin in western Texas and […]
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