Post Tagged with: "oil/petroleum"

In 2019, U.S energy production exceeded consumption for the first time in 62 years

In 2019, U.S energy production exceeded consumption for the first time in 62 years

EIA


Oil & Gas 360 Publishers Note: Very interesting data provided by the EIA. If the U.S. energy production exceeded consumption in 2019 with no Covid 19 Virus, what in the world is going to happen this year?

In 2019, …

WTI crude oil futures prices fell below zero because of low liquidity and limited available storage

WTI crude oil futures prices fell below zero because of low liquidity and limited available storage

EIA


On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of …

EIA forecasts U.S. crude oil production to decline because of low oil prices – STEO foretasted below $45 per barrel through 2021

EIA forecasts U.S. crude oil production to decline because of low oil prices – STEO foretasted below $45 per barrel through 2021

EIA


In the April 2020 update of its Short-Term Energy Outlook (STEO), released on April 7, and before a recently announced agreement by oil producing countries to limit production, the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil …

China’s crude oil imports surpassed 10 million barrels per day in 2019

China’s crude oil imports surpassed 10 million barrels per day in 2019

EIA

China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average. China remains the world’s top crude oil importer, surpassing the United

March 23, 2020 - 1:59 pm China, EIA News That Matters, Energy News
OPEC shift to maintain market share will cause global inventory increases and lower prices

OPEC shift to maintain market share will cause global inventory increases and lower prices

EIA


Markets for oil, as well as other commodities and equities, have experienced significant volatility and price declines since the final week in February amid concerns over the economic effects of the 2019 novel coronavirus disease (COVID-19). More …

U.S. crude oil production grew 11% in 2019, surpassing 12 million barrels per day

U.S. crude oil production grew 11% in 2019, surpassing 12 million barrels per day

EIA


Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than 2018 levels. The 2019 growth rate was down from a 17% growth rate in …

U.S. crude oil production increases; imports remain strong to support refinery operations

U.S. crude oil production increases; imports remain strong to support refinery operations

EIA


In the Annual Energy Outlook 2020 Reference case, EIA projects that the United States will remain a net exporter of total petroleum liquids; however, the United States will remain a net importer of crude oil through 2050.

United …

EIA revises global liquid fuels demand growth down because of the coronavirus

EIA revises global liquid fuels demand growth down because of the coronavirus

EIA


In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the …

U.S. crude oil production efficiency continues to improve

U.S. crude oil production efficiency continues to improve

EIA



U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average first full month of oil production from new wells …

February 1, 2020 - 7:19 pm Crude Oil News, EIA News That Matters