EIA expects most U.S. households will spend more on energy this winter
We expect that most U.S. households will spend more money on energy this winter than last winter, according to our latest Winter Fuels Outlook (released October 2022). We primarily forecast an increase in household energy expenditures this winter because we expect higher retail energy prices and a slightly colder winter.
U.S. natural gas production set a new record in 2021
U.S. dry natural gas production set an annual record in 2021, increasing by 3.5% from 2020, according to our recently released Natural Gas Annual. In 2020, production had dipped because of reduced economic activity during the COVID-19 pandemic. In 2021, dry natural gas production exceeded the previous record set in 2019, and our Short-Term Energy […]
ERCOT electricity prices vary more with changes in wind power than with electricity demand
In the Short-Term Energy Outlook Supplement released on October 4, we analyzed how variability in electricity demand and wind generation affects hourly electricity prices in Texas�s wholesale power market under summer peak-day conditions, when summer electricity demand is highest. The Electric Reliability Council of Texas (ERCOT)�which runs the wholesale power market in Texas�has had significant […]
The United States produces lighter crude oil, imports heavier crude oil
In the first half of 2022, U.S. crude oil production averaged 11.1 million barrels per day (b/d), up from an annual average of 10.8 million b/d in 2021. Crude oil with a higher API gravity is lighter, or less dense. Production of light crude oil with an API value greater than 45.1 degrees increased the […]
Number of drilled but uncompleted U.S. wells continues to decline from record in 2020
Based on our latest Drilling Productivity Report (DPR), drilled but uncompleted wells (DUCs) in all U.S. DPR regions totaled an estimated 4,283 wells in August 2022, the least in any month since we started estimating DUCs in October 2013. The decline in DUCs in most major U.S. onshore oil- and natural gas-producing regions indicates that […]
Residential and commercial natural gas prices reach multiyear highs in 2022
Residential and commercial U.S. natural gas prices were relatively high throughout 2021 and have exceeded the previous five-year (2017�21) range so far this year, according to our recently released Natural Gas Monthly. In real terms, the 2021 annual residential price was the highest since 2014, and the commercial price was the highest since 2015. For […]
Hurricane Ian temporarily disrupts Florida�s gasoline supply chain
Hurricane Ian made landfall on Florida�s western coast on September 28 as a Category 4 hurricane. The hurricane-related rain and wind and the resulting flooding disrupted key gasoline supply chains to the state. Florida does not have any refineries or gasoline pipelines that connect it to states with excess supply. Florida’s gasoline is delivered by […]
China processed the least crude oil since early 2020 in second-quarter 2022
In the second quarter of 2022, China processed the least crude oil since the first quarter of 2020, when the COVID-19 pandemic had the strongest effect on China’s economic activity. The resurgence of COVID-19 cases since March 2022 and China’s policy of localized mobility restrictions explain China’s reduced demand for petroleum products, and as a […]
Advances in technology led to record new well productivity in the Permian Basin in 2021
The Permian Basin in western Texas and eastern New Mexico is one of the world’s most prolific unconventional oil- and natural gas-producing regions. The Permian Basin has become more productive because of the technological advancements in drilling and completion techniques, which allow operators to economically extract hydrocarbons from the low permeability reservoirs.
U.S. commercial buildings continued to increase their energy efficiency as of 2018
According to our recently released 2018 Commercial Buildings Energy Consumption Survey (CBECS), the total floorspace in commercial buildings has increased but energy consumption has not, compared with our last survey (2012 CBECS). This difference indicates that the consumption per square foot (energy intensity) has decreased, which means that that efficiency has likely increased.