On July 18, OPEC+, which includes most members of OPEC and several non-OPEC members (including Russia), agreed to increase monthly crude oil production starting in August 2021. On July 19, after the new OPEC+ agreement was made public, the price of Brent crude oil fell 7% from the previous day to $69 per barrel (b). […]
Category: Today in Energy
The number of producing U.S. coal mines fell in 2020
By the end of 2020, the number of producing coal mines in the United States fell to 551 mines, the lowest number since U.S. coal production peaked in 2008. In 2020, 40 coal mines were opened or reactivated, and 151 mines were idled or closed. This overall decrease resulted in an 18% annual decline in […]
U.S. renewable diesel capacity could increase due to announced and developing projects
U.S. production capacity for renewable diesel could increase significantly through 2024, based on several announcements for projects that either are currently under construction or could be in development soon. This growth is driven by higher state and federal targets for renewable fuel, favorable tax credits, and the conversion of existing petroleum refineries into renewable diesel […]
Renewables became the second-most prevalent U.S. electricity source in 2020
In 2020, renewable energy sources (including wind, hydroelectric, solar, biomass, and geothermal energy) generated a record 834 billion kilowatthours (kWh) of electricity, or about 21% of all the electricity generated in the United States. Only natural gas (1,617 billion kWh) produced more electricity than renewables in the United States in 2020. Renewables surpassed both nuclear […]
U.S. liquefied natural gas exports grew to record highs in the first half of 2021
U.S. exports of liquefied natural gas (LNG) continued to grow in the first six months of 2021, averaging 9.6 billion cubic feet per day (Bcf/d). This average marks an increase of 42%, or 2.8 Bcf/d, compared with the same period in 2020 (according to the U.S. Department of Energy’s LNG Monthly reports and our estimates […]
In 2020, the United States produced the least CO2 emissions from energy in nearly 40 years
In 2020, as the country responded to the COVID-19 pandemic, CO2 emissions from energy consumption in the United States fell to the lowest level since 1983. The 4.6 billion metric tons (Bmt) of CO2 emitted in 2020 was an 11% decrease from 2019, the largest annual decrease on record, according to our Monthly Energy Review. […]
U.S. natural gas exports to Mexico established a new monthly record in June 2021
Natural gas pipeline exports from the United States to Mexico surpassed 7 billion cubic feet per day (Bcf/d) on multiple days during June, according to data from Wood Mackenzie. The highest amount of pipeline exports, 7.4 Bcf/d, was sent out on June 17. […]
Summer U.S. natural gas prices are the highest since 2014
In June, the U.S. natural gas spot price at the Henry Hub averaged $3.26 per million British thermal units (MMBtu), the highest price during any summer month (April–September) since 2014. Prices in July have increased from June, averaging $3.67/MMBtu through the first two weeks of July. Spot prices for July 14 in every one of […]
June heat wave in the Northwest United States resulted in more demand for electricity
A heat wave in the Northwest United States in late June led to more regional demand for electricity. During periods of high temperatures, electricity demand increases as people turn up their air conditioners, dehumidifiers, fans, and other cooling equipment. Very high temperature events, like the one in June in the Northwest, tend to push electricity […]
U.S. crude oil exports reached record levels in 2020 and remain high in 2021
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020. So far this year (as of July 9, 2021), U.S. crude oil exports have averaged 3.00 million barrels per day (b/d). The most recent four-week rolling average of U.S. crude oil exports reached 3.51 million b/d, according to our […]