Today in Energy
Number of drilled but uncompleted U.S. wells continues to decline from record in 2020
Based on our latest Drilling Productivity Report (DPR), drilled but uncompleted wells (DUCs) in all U.S. DPR regions totaled an estimated 4,283 wells in August 2022, the least in any month since we started estimating DUCs in October 2013. The decline in DUCs in most major U.S. onshore oil- and ...
ERCOT electricity prices vary more with changes in wind power than with electricity demand
In the Short-Term Energy Outlook Supplement released on October 4, we analyzed how variability in electricity demand and wind generation affects hourly electricity prices in Texas’s wholesale power market under summer peak-day conditions, when summer electricity demand is highest. The Electric ...
China processed the least crude oil since early 2020 in second-quarter 2022
In the second quarter of 2022, China processed the least crude oil since the first quarter of 2020, when the COVID-19 pandemic had the strongest effect on China’s economic activity. The resurgence of COVID-19 cases since March 2022 and China’s policy of localized mobility restrictions ...
Residential and commercial natural gas prices reach multiyear highs in 2022
Residential and commercial U.S. natural gas prices were relatively high throughout 2021 and have exceeded the previous five-year (2017–21) range so far this year, according to our recently released Natural Gas Monthly. In real terms, the 2021 annual residential price was the highest since 2014, and ...
Hurricane Ian temporarily disrupts Florida’s gasoline supply chain
Hurricane Ian made landfall on Florida’s western coast on September 28 as a Category 4 hurricane. The hurricane-related rain and wind and the resulting flooding disrupted key gasoline supply chains to the state. Florida does not have any refineries or gasoline pipelines that connect it to states ...
Advances in technology led to record new well productivity in the Permian Basin in 2021
The Permian Basin in western Texas and eastern New Mexico is one of the world’s most prolific unconventional oil- and natural gas-producing regions. The Permian Basin has become more productive because of the technological advancements in drilling and completion techniques, which allow ...
U.S. commercial buildings continued to increase their energy efficiency as of 2018
According to our recently released 2018 Commercial Buildings Energy Consumption Survey (CBECS), the total floorspace in commercial buildings has increased but energy consumption has not, compared with our last survey (2012 CBECS). This difference indicates that the consumption per square foot ...
California consumers respond to appeals for electricity conservation during heat wave
During an extreme heat wave in early September, California’s power grid had trouble meeting record-breaking electricity demand as consumers turned up their air conditioning to keep cool. To avoid rolling blackouts, the California Independent System Operator (CAISO), which manages the grid for ...
U.S. LNG imports reached 15-year lows first-half 2022, displaced by natural gas production
In the first six months of 2022, U.S. liquefied natural gas (LNG) imports were the lowest in at least 15 years, averaging 0.08 billion cubic feet per day (Bcf/d), compared with the five-year (2017–21) average of 0.2 Bcf/d for the same period. LNG imports usually peak in the winter months ...
The United States exported record amounts of petroleum products in the first half of 2022
In the first half of 2022 (January—June), U.S. exports of petroleum products averaged nearly 6 million barrels per day (b/d), the most first-half-of-year exports in Petroleum Supply Monthly data, going back to 1973. U.S. petroleum product exports increased in the first half of 2022 by 11% (596,000 ...
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