Mixed water supply condition across western states affects 2023 hydropower outlook
Record-breaking rain and snow in parts of the western United States contribute to our forecast 72% rise in hydropower generation in California this year compared with last year, according to our latest Short-Term Energy Outlook (STEO). However, below-normal precipitation and a mixed water supply outlook in the Pacific Northwest, which generates a significant portion of […]
What is OPEC+ and how is it different from OPEC?
The Organization of the Petroleum Exporting Countries, also known as OPEC, was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela. The organization has since expanded to 13 members. OPEC regularly meets to set oil production targets and coordinate output to help manage global oil prices for the entire group.
Europe ended winter 2022-23 with the most natural gas in storage on record
As of April 1, natural gas storage inventories were 56% full—the highest percentage on record for the end of a heating season (November 1 through March 31)—according to data from Gas Infrastructure Europe’s Aggregated Gas Storage Inventory (AGSI+). On April 1, natural gas storage in Europe totaled 2.02 trillion cubic feet (Tcf), exceeding the previous […]
U.S. households in warmer states consume less site energy than households in colder states
U.S. households consumed an average of 76.7 million British thermal units (MMBtu) of site energy in 2020, according to our 2020 Residential Energy Consumption Survey (RECS) data. The average site energy a household uses is largely correlated with the average outdoor temperature; households in colder climates, where space heating equipment is used more intensely, tend […]
Haynesville natural gas production reached a record high in March 2023
Dry natural gas production from the Haynesville shale play in northeastern Texas and northwestern Louisiana reached new highs in March 2023, averaging 14.5 billion cubic feet per day (Bcf/d), 10% more than the 2022 annual average of 13.1 Bcf/d, according to data from Enverus. Haynesville natural gas production currently accounts for about 14% of all […]
Beaumont refinery expansion boosts Gulf Coast petroleum refining capacity
On March 16, ExxonMobil announced the beginning of operations at the expansion of its Beaumont refinery, adding 250,000 barrels per day (b/d) of capacity, according to the company’s announcement. The expansion makes the oil refinery one of the largest in the United States as measured by crude oil distillation capacity. According to ExxonMobil, the total […]
A mild winter reduced withdrawals from natural gas storage in the U.S. South Central
During this past winter heating season (Nov 1�Mar 31), the amount of natural gas withdrawn from underground storage in the U.S. South Central storage region was among the least on record, at 239 billion cubic feet (Bcf), according to our Weekly Natural Gas Storage Report. Winter heating degree days in the region were 10% below […]
U.S. natural gas production and LNG exports will likely grow through 2050 in AEO2023
In our Annual Energy Outlook 2023 (AEO2023) Reference case, we project U.S. natural gas production to increase 15% and liquefied natural gas (LNG) exports to increase 152% between 2022 and 2050. We expect natural gas production to rise to 42.1 trillion cubic feet (Tcf) by 2050. Production growth is largely driven by U.S. LNG exports, […]
U.S. coal shipments increased slightly in 2022 as power plants replenished stockpiles
The amount of coal received by power plants in the United States has largely declined over the past decade as coal-fired electricity generation has fallen and many coal-fired power plants have closed. However, slightly more coal was shipped to U.S. power plants in 2022 than in 2021 even though coal-fired generation fell by nearly 8% […]
Less natural gas was withdrawn from storage this winter than in the last seven
Withdrawals of natural gas from U.S. underground storage facilities totaled 1,707 billion cubic feet (Bcf) during the 2022–23 heating season (November 1 to March 31), after subtracting occasional injections, according to our Weekly Natural Gas Storage Report (WNGSR). This recent heating season’s natural gas withdrawals were the lowest since the 2015–16 winter heating season. After […]