Post Tagged with: "production/supply"

Fossil fuels account for the largest share of U.S. energy production and consumption

Fossil fuels account for the largest share of U.S. energy production and consumption

EIA


Fossil fuels, or energy sources formed in the Earth’s crust from decayed organic material, including petroleum, natural gas, and coal, continue to account for the largest share of energy production and consumption in the United States. In 2019, 80% …

Early 2020 drop in crude oil prices led to write-downs of U.S. oil producers’ assets

Early 2020 drop in crude oil prices led to write-downs of U.S. oil producers’ assets

EIA


According to publicly filed financial statements, 40 U.S. oil producers collectively wrote down $48 billion worth of assets in the first quarter of 2020, the largest quarterly adjustment since at least 2015. Low crude oil prices contributed to significant …

July 27, 2020 - 8:45 am Crude Oil News, Earnings, EIA News That Matters, Finance
EIA expects lower natural gas production in 2020

EIA expects lower natural gas production in 2020

EIA


Oil and Gas Publishers Note: While the EIA is looking at prices in the $2.95 range, we have been talking to many experts in the oil and gas space and they look for higher numbers. It is always to

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, …

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 …

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
EIA’s Annual Energy Outlook 2020 projects consumption growing more slowly than production

EIA’s Annual Energy Outlook 2020 projects consumption growing more slowly than production

EIA


The AEO2020 Reference case projects domestic energy demand to grow 0.3% per year on average through 2050, slower than the average annual growth of 1.9% in U.S. gross domestic product. This projection is largely driven by continued increases in