Following reports that Russian forces invaded Ukraine on Thursday, February 24, the front-month futures price of both Brent and West Texas Intermediate (WTI) crude oil have increased to more than $100 per barrel (b). The front-month Brent contract price closed just below $115/b on Wednesday, March 2, after rising and settling above $100/b on February […]
Category: Today in Energy
EIA projects U.S. energy consumption will grow through 2050, driven by economic growth
Energy consumption will increase in the United States over the next 30 years across a variety of economic scenarios as population and economic growth outpace energy efficiency gains, according to our Annual Energy Outlook 2022 (AEO2022), which we will release later today. […]
New pipelines carrying natural gas plant liquids increase natural gas processing
In 2020 and 2021, more than 2,000 miles of new liquids pipelines were brought into service, according to our Liquids Pipeline Projects database. Several of these recent infrastructure projects were dedicated to transporting a mix of natural gas plant liquids (NGPLs), which are produced at natural gas processing plants from raw natural gas streams. […]
During 2021, U.S. retail electricity prices rose at fastest rate since 2008
In 2021, the average nominal retail electricity price paid by U.S. residential electric customers rose at the fastest rate since 2008, increasing 4.3% from 2020 to 13.72 cents per kilowatthour (kWh), according to data from our latest Electric Power Monthly. This increase is similar to the change in the U.S. Consumer Price Index, which was […]
EIA adds new forecasts of renewable diesel and other biofuels to Short-Term Energy Outlook
In our February Short-Term Energy Outlook (STEO), we introduced new forecasts of U.S. production, consumption, and the net of imports less exports of biodiesel, renewable diesel, and other biofuels in the United States. This new breakout highlights our significant forecast for growth in U.S. renewable diesel production. In previous STEO releases, we included a forecast […]
EIA Product Highlight: New England Dashboard
To increase customer understanding of energy interrelationships among electricity, natural gas, and petroleum products in New England, we provide an interactive dashboard that shows energy market and weather conditions in that region. The dashboard helps analysts and interested participants examine many key aspects of wholesale energy markets in New England. […]
Natural gas interstate pipeline capacity additions decrease in 2021
A total of 7.44 billion cubic feet per day (Bcf/d) of interstate natural gas pipeline capacity was added in the United States during 2021, according to our recently updated Natural Gas Pipeline Projects Tracker. This amount was the lowest amount of capacity added to interstate transmission since 2016. […]
Mixed water supply conditions in the Northwest affect 2022 hydropower outlook
On February 3, the National Oceanic and Atmospheric Administration’s Northwest River Forecast Center (NWRFC) released its latest water supply forecast for the 2022 water year, which runs from October 2021 through September 2022. The NWRFC forecasts below-normal water supply in the southern areas of the Columbia River Basin and near-normal water supply in the rest […]
Three countries provided almost 70% of liquefied natural gas received in Europe in 2021
In 2021, a large share of Europe’s supply of liquefied natural gas (LNG) originated in the United States, Qatar, and Russia. Combined, these three countries accounted for almost 70% of Europe’s total LNG imports, according to data by CEDIGAZ. The United States became Europe’s largest source of LNG in 2021, accounting for 26% of all […]
EIA expects U.S. petroleum trade to shift toward net imports during 2022
In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it exports following its historic shift to being a net exporter of petroleum in 2020. According to our February 2022 Short-Term Energy Outlook (STEO), we expect net crude oil imports to increase, making the […]
