By Jeff Barron This article was published by the United States Energy Information Administration on May 10, 2019. Net income for 43 US oil producers totalled $28 billion in 2018, a five-year high. Based on [Read more]
US added just under 50% of new reserves, Canada added less than 6% In 2017, a group of the world’s largest publicly traded oil and natural gas producers added more hydrocarbons to their resource base [Read more]
EIA expects OPEC crude oil production will average 32.0 million b/d in 2018, a decrease of about 0.4 million b/d from 2017 In the June 2018 update of its Short-Term Energy Outlook (STEO), EIA forecasts Brent crude [Read more]
Almost 80% of oil produced in Alaska in 2017 was refined in Washington and California In Dec. 2017, the passage of Public Law 115-97 required the U.S. Secretary of the Interior to establish and administer a competitive [Read more]
US distillate inventories have fallen since Jan. and were estimated to have fallen lower than the five-year range as of May 18 During the spring and summer months, gasoline futures prices are generally higher than distillate futures [Read more]
Midwest reduced need to draw supplies from Gulf Coast because refineries are now running at higher rates and increased capacity More than half of all U.S. motor gasoline exports went to Mexico in 2017. Changes [Read more]
Significant volumes of gasoline flow from refineries in Eastern Canada to serve markets in Northeast US Canada is the largest energy trading partner of the United States, based on the combined value of energy exports [Read more]
About two-thirds of households with BEVs or PHEVs have incomes higher than $100,000 Electrified vehicles (hybrid electric, plug-in hybrid electric, and battery electric) have been sold as high fuel economy alternatives to conventional gasoline vehicles [Read more]
Russian and Saudi natural gas production expanded significantly in 2017, at 8% and 6% year-on-year growth The United States remained the world’s top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record [Read more]
Half of US propane production is from the Gulf Coast In 2017, the United States exported 905,000 barrels per day (b/d) of propane, with the largest volumes going to supply petrochemical feedstock demand in Asian [Read more]
Greater GDP growth has potential to increase oil consumption beyond forecasted levels, putting upward pressure on crude oil prices EIA’s May Short-Term Energy Outlook (STEO) forecasts that Brent crude oil prices will average $71 per barrel (b) [Read more]
In 2017, biodiesels accounted for4% of total diesel consumption Biodiesel is a renewable fuel made from various feedstocks, including refined vegetable oils, recycled cooking oils, and rendered animal fats. Different feedstocks produce biodiesel with distinct [Read more]
Of the 132,000 b/d of Canadian crude oil imported by rail in 2017, over half went to U.S. Gulf Growth in Canadian crude oil production has outpaced expansions in pipeline takeaway capacity and, along with past [Read more]
As rig counts recover from decreases during 2015 and 2016, producers have increasingly targeted Permian Basin in West Texas US tight crude oil production increased in 2017, accounting for 54% of total U.S. crude oil [Read more]
Gulf Coast gasoline prices among lowest in country because the region generally has low state tax rates and abundant gasoline supplies The US Energy Information Administration forecasts that drivers in the United States will pay [Read more]
Declining profit margins, reduced expectations for quick price recovery prompted many GOM operators to reduce deepwater exploration spending in 2015, 2016 U.S. crude oil production in the Federal Gulf of Mexico (GOM) increased slightly in [Read more]
Permian Basin spans 53 million acres across western Texas and southeastern New Mexico Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 [Read more]
In 2017, about 13% of total petroleum products consumed were for non-combustion use While most fossil fuels in the United States are burned, or combusted, to produce heat and power, EIA estimates that the equivalent [Read more]
Production levels in Colorado, Oklahoma, North Dakota each grew by more than 30,000 b/d from 2016 to 2017 Annual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase [Read more]
Texas Railroad Commission values show production at 2.99 million b/d in that same month Crude oil and lease condensate production data for Texas, published by EIA in its Petroleum Supply Monthly (PSM) and by the Texas Railroad Commission (TRRC), [Read more]
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