Natural gas prices at SoCal Citygate, the major price hub in Southern California, averaged $3.61 per million British thermal units (MMBtu) in December 2023—the lowest December price since 2015 when adjusted for inflation—according to data […]
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. […]
The U.S. Energy Information Administration (EIA) raised its U.S. diesel price forecasts for both 2024 and 2025 in its latest short term energy outlook (STEO), which was released recently. According to its March STEO, the […]
In 2023, 5.2 billion cubic feet per day (Bcf/d) of natural gas intrastate pipeline capacity was added in the United States, according to our recently updated Natural Gas Pipeline Projects Tracker. Intrastate pipelines are within a […]
In 2023, crude oil and natural gas exploration and production (E&P) companies increased spending on mergers and acquisitions (M&A) to $234 billion, the most in real 2023 dollars since 2012. Recent dealmaking marks a return to the previous […]
US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased by 2.0 million bbl from the previous week, according to data from the US Energy Information Administration. At 445.0 […]
The U.S. Energy Information Administration (EIA) increased its forecasts for U.S. crude oil production for both 2024 and 2025 in its latest short term energy outlook (STEO), which was released last week. According to the […]
The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up. The figures compared with a crude oil inventory build of 1.4 […]
Daily Standup Top Stories TotalEnergies reports lower LNG earnings, sales February 7, 2024 Allen Santos France’s TotalEnergies said on Wednesday that the company’s integrated LNG business logged a decline in its adjusted net operating income in […]
Data source: S&P Global Commodity Insights On January 16, 2024, a record high of 141.5 billion cubic feet (Bcf) of natural gas was consumed in the U.S. Lower 48 states (L48), exceeding the previous record set […]
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