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Posted March 3, 2015Today in Energy

Oil production in federal Gulf of Mexico expected to continue increasing ›

Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million barrels per day (bbl/d) in 2015 and 1.61 million bbl/d in 2016, or about 16% and 17% of total U.S. crude oil production in those two years, respectively.More


Source: U.S. Energy Information Administration

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Data Highlights

WTI crude oil futures price

3/2/2015: $49.59/bbl

up$0.14 from week earlier
down$53.00 from year earlier

Natural gas futures price

3/2/2015: $2.698/mmBtu

down$0.181 from week earlier
down$1.911 from year earlier

Retail gasoline price

3/2/2015: $2.473/gal

up$0.141 from week earlier
down$1.006 from year earlier

Retail diesel price

3/2/2015: $2.936/gal

up$0.036 from week earlier
down$1.080 from year earlier

Weekly coal production

2/21/2015: 16.505 million tons

down2.679 million tons from week earlier
down2.529 million tons from year earlier

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