The U.S. Energy Information Administration’s January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the…

Month: January 2017 (page 2)
Wholesale power prices in 2016 fell, reflecting lower natural gas prices
Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England.…
Renewable generation capacity expected to account for most 2016 capacity additions
Once final data are in, EIA expects 24 gigawatts (GW) of new generating capacity to be added to the power grid during 2016. For the third consecutive year, nearly two-thirds of these additions are renewable technologies, especially wind and solar.…
Coal production declines in 2016, with average coal prices below their 2015 level
U.S. coal production in 2016 is expected to total 743 million short tons (MMst), 17% lower than in 2015, and the lowest level since 1978. Falling production in 2016 continues an eight-year decline from peak production in 2008. …read more…
Energy commodity prices rose more than other commodity sectors in 2016
The spot energy index in the S&P Goldman Sachs Commodity Index (GSCI) rose 48% since the start of 2016, more than any other commodity group in the S&P GSCI. The spot S&P GSCI industrial metals, precious metals, and agriculture indices…
U.S. gasoline prices in 2016 were the lowest since 2004
U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline…
EIA’s AEO2017 projects the United States to be net energy exporter in most cases
EIA’s Annual Energy Outlook 2017 (AEO2017), which will be released this morning, presents updated projections for U.S. energy markets through 2050 based on eight cases. This is the first time that EIA is publishing projections through 2050 in the AEO…
Crude oil prices increased in 2016, still below 2015 averages
Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/b—down $5/b from 2015—the WTI price ended 2016 at $53/b, $16/b higher than at the…