Forecast strong hurricane season presents risk for U.S. oil and natural gas industry
Meteorologists are forecasting a particularly intense Atlantic hurricane season this year; they expect 20-25 named storms with a possibility of 30 or more, according to reports from AccuWeather in April. Colorado State University similarly forecasts an estimated 23 named storms this year. The potential for a stronger hurricane season suggests heightened risk for weather-related production […]
Guyana becomes key contributor to global crude oil supply growth
Guyana, situated on South America’s northern coast neighboring Venezuela, Suriname, and Brazil, has emerged as a significant contributor to growth in the global supply of crude oil. Since starting production in 2019, Guyana has increased its crude oil production to 645,000 barrels per day (b/d) as of early 2024, all sourced from offshore resources in […]
U.S. electricity consumption by light-duty vehicles likely surpassed rail in 2023
Light-duty vehicles (LDV) in the United States used more electricity than rail systems for the first time in 2023, according to new estimates in our Electric Power Monthly. We recently started publishing experimental estimates for LDV electricity consumption, which are not collected on our traditional surveys but are derived using a model. We compared these […]
Natural gas-fired electricity generation in Texas set winter record in January 2024
The electric power grid managed by the Electric Reliability Council of Texas (ERCOT) recorded an all-time high for winter natural gas-fired electricity generation for an hour in January, according to our Hourly Electric Grid Monitor, when a three-day cold snap increased electricity demand. Hourly natural gas-fired electricity generation increased to 49.4 gigawatts (GW) for the […]
U.S. share of electric and hybrid vehicle sales decreased in the first quarter of 2024
The share of electric and hybrid vehicle sales in the United States decreased in the first quarter of 2024 as battery electric vehicle (BEV) sales declined. Hybrid vehicles, plug-in hybrid electric vehicles, and BEVs fell to 18.0% of total new light-duty vehicle (LDV) sales in the United States in the first quarter of 2024 (1Q24) […]
Russia’s seaborne diesel trading partners shifted after Feb 2023 sanctions
In 2023, Brazil and Saudi Arabia replaced France and Germany as the countries with the second- and third-most seaborne diesel imports from Russia after sanctions related to Russia’s petroleum product trade went into effect in February 2023. T�rkiye was Russia’s largest seaborne diesel importer in both 2022 and 2023.
Higher refining costs could increase summer gasoline prices
Average monthly prices for regular-grade retail gasoline in the United States could increase by more than 10 cents per gallon (gal) if refinery output is lower than expected, according to an analysis we published on May 14.
U.S. coal-fired electricity generation decreased in 2022 and 2023
Electricity generation from units that primarily consume coal in the U.S. Lower 48 states decreased for all hours of the day by about 23% between 2021 and 2023, according to our Form EIA-930, Hourly and Daily Balancing Authority Operations Report. Most of the decline occurred between 2022 and 2023, when coal-fired generation fell 19% and […]
Propane prices were slightly lower this winter compared with last winter
U.S. wholesale and retail propane prices were slightly lower on average this winter than last winter, largely because of mild weather and robust propane inventories heading into this winter heating season. Despite lower prices and lagging domestic demand, however, continuing international demand for U.S. propane contributed to large withdrawals and left end-of-winter propane inventories below […]
U.S. West Coast refinery demand for hydrogen increasingly met by merchant suppliers
U.S. West Coast refiners are using more hydrogen purchased from merchant suppliers than from their own production. From 2012 to 2022, hydrogen purchased by refiners in the region increased 29% to about 550 million cubic feet per day (MMcf/d). Over the same period, on-site refinery-produced hydrogen production from natural gas fell 20% to about 330 […]