Crude oil supply disruptions—realized or expected—can have large and immediate effects on crude oil prices. Two recent events, the September 2019 attacks on Saudi Aramco facilities at Abqaiq and Khurais (which disrupted crude oil volumes) and the January 2020 military…
Month: January 2020
EIA expects U.S. electricity generation from renewables to soon surpass nuclear and coal
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as wind and solar to surpass nuclear and coal by 2021 and to surpass natural gas in 2045. In the Annual Energy…
EIA’s Annual Energy Outlook 2020 projects consumption growing more slowly than production
The U.S. Energy Information Administration (EIA) will release updated projections of future U.S. energy production and use in its Annual Energy Outlook 2020 (AEO2020) today at 11:00 a.m. ET. The AEO2020 Reference case, which serves as a baseline for exploring…
U.S. biomass-based diesel tax credit renewed through 2022 in government spending bill
The U.S. government spending bill signed into law in late December 2019 included several provisions related to federal energy programs. Among these provisions was the reinstatement of a $1.00 per gallon biodiesel mixture credit, commonly referred to as the biodiesel…
EIA forecasts U.S. crude oil production will keep growing through 2021, but more slowly
In the January 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 13.3 million barrels per day (b/d) in 2020, a 9% increase from 2019 production levels,…
U.S. crude oil production efficiency continues year-over-year improvements
U.S. oil production from tight formations increased in 2019, accounting for 64% of total U.S. crude oil production. This share grew because of the increasing productivity of new wells that were brought online during 2019. Since 2007, the average first…
EIA expects U.S. net natural gas exports to almost double by 2021
In its Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 billion cubic feet per day (Bcf/d) in 2020 (2.0…
EIA projects less than a quarter of the world’s electricity generated from coal by 2050
According to the U.S. Energy Information Administration’s (EIA) International Energy Outlook 2019 (IEO2019), global electric power generation from renewable sources will increase more than 20% throughout the projection period (2018–2050), providing almost half of the world’s electricity generation in 2050.…
EIA forecasts crude oil prices will fall in the first half of 2020, then rise through 2021
In the U.S. Energy Information Administration’s (EIA) January Short-Term Energy Outlook (STEO), EIA forecasts that the Brent crude oil spot price will average $65 per barrel (b) in 2020 and $68/b in 2021 and that the West Texas Intermediate (WTI)…
EIA expects U.S. energy-related CO2 emissions to decrease annually through 2021
In its latest Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts year-over-year decreases in energy-related carbon dioxide (CO2) emissions through 2021. After decreasing by 2.1% in 2019, energy-related CO2 emissions will decrease by…
