Tag: STEO (Short-Term Energy Outlook)
US oil production to increase through end of 2017, setting up record 2018
Forecast based on recent drilling, production and driven largely by WTI crude oil price EIA forecasts that U.S crude oil production will average 9.4 million b/d in the second half of 2017, 340,000 b/d more than in the first half of 2017, according to the U.S. Energy Information Administration. Production in 2018 is expected to […]
US energy-related carbon dioxide emissions expected to fall in 2017 but rise in 2018
Non-carbon electricity generation (primarily hydro power) to decline by 5 billion kWh Energy-related carbon dioxide (CO2) emissions fell in both 2015 and 2016, and they are expected to fall again in 2017, based on forecasts in EIA’s Short-Term Energy Outlook. However, EIA forecasts a 2.2 per cent increase in energy-related CO2 emissions in 2018. An annual […]
US heating costs likely to be higher this winter
Heating oil use much more common in Northeast regions Most U.S. households can expect higher heating expenditures this winter (October through March) than the last two winters according to EIA’s Winter Fuels Outlook. Higher expected winter heating expenditures are the result of both more heating demand because of relatively colder weather and, to a lesser extent, […]
Residential electricity prices up 3% in first half of 2017
Lower average usage of electricity offset the increase in retail prices Retail electricity rates paid by U.S. residential customers averaged 12.8 cents per kilowatthour (kWh) during the first six months of 2017, an increase of about 3 per cent compared to the same period in 2016, according to the U.S. Energy Information Administration. First half […]
US news brief July 18: Big Oil applauds Trump NAFTA plans to further integrate Canada into USA oil/gas market
Also in this brief: Gasoline to average $2.38/gallon ($.79CDN/litre) this summer API calls for tighter integration of North American oil/gas markets as Canada seeks new markets in Asia Jack Gerard, CEO of the American Petroleum Institute, says he is pleased to see the Trump Administration’s recommendations for “modernizing” the North American Free Trade Agreement (NAFTA) to […]
Brent, WTI crude oil prices to average $50 per barrel through 2018
Without further OPEC agreement, EIA expects lower prices in 2018 than forecast Brent crude oil spot prices to average $51/b in 2017 and $52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be $2/b lower than Brent prices in 2017 and 2018, according to the U.S. Energy Information Administration. Daily and […]
Global oil markets expected to tighten in Q3, loosen through 2018
EIA expects U.S. crude oil production to increase through 2018 Forecast world production of crude oil and other liquids in 2017 and 2018 was revised slightly downward in the June edition of EIA’s Short-Term Energy Outlook (STEO), which was issued after the May 25 announcement by the Organization of the Petroleum Exporting Countries (OPEC) of […]
Natural gas to be largest source of US electricity generation this summer
Electricity generation for summer 2006, 25% came from natural gas, 46% from coal The US Energy Information Administration expects that electricity generation fueled by natural gas this summer (June, July, and August) will be lower than last summer, but it will continue to exceed that of any other fuel, including coal-fired generation, for the third summer […]
US natural gas-fired generating capacity likely to increase by 36 GW over next 2 years
Coal’s share of generation projected to rise from 30% to 32% The electricity industry is planning to increase natural gas-fired generating capacity by 11.2 gigawatts (GW) in 2017 and 25.4 GW in 2018, based on information reported to EIA. If these plants come online as planned, annual net additions in natural gas capacity would be […]
Global crude oil balances expected to tighten through 2018
Brent crude oil spot prices expected to remain fairly flat during 2017 Crude oil and other liquids inventories grew by 2.0 million b/d in the fourth quarter of 2016, driven by an increase in production and a significant, but seasonal, drop in consumption, according to the US Energy Information Administration estimates. Global production and consumption are […]
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