Supply, Disposition, and Prices

2015

2020

Reference

Accelerated Depletion

Accelerated Depletion

Reference

Accelerated Depletion

Accelerated Depletion

Low World Oil Price

High World Oil Price

Low World Oil Price

High World Oil Price

Lower 48 Average Wellhead Price¹

(1998 dollars per barrel)

20.96

21.06

14.26

27.39

21.27

21.21

13.88

27.59

Production²

  U.S. Total

5.39

5.10

4.53

5.59

5.47

5.18

4.51

5.80

     Lower 48 Onshore

3.22

3.17

2.72

3.63

3.36

3.39

2.85

3.91

        Conventional

2.54

2.49

2.36

2.63

2.65

2.67

2.53

2.80

        Enhanced Oil Recovery

0.69

0.68

0.36

1.00

0.71

0.72

0.31

1.11

     Lower 48 Offshore

1.54

1.30

1.22

1.31

1.60

1.33

1.23

1.40

     Alaska

0.63

0.63

0.60

0.65

0.51

0.47

0.44

0.49

Net Crude Imports

11.28

11.59

12.52

11.15

11.39

11.70

12.62

11.07

Total Crude Supply

16.67

16.68

17.05

16.74

16.86

16.88

17.13

16.87

Natural Gas Plant Liquids

2.28

2.17

2.12

2.20

2.38

2.07

2.02

2.11

Other Inputs³

0.30

0.29

0.26

0.37

0.32

0.31

0.25

0.33

Refinery Processing Gain⁴

1.11

1.10

1.01

1.22

1.12

1.11

0.98

1.16

Net Product Imports⁵

3.50

3.68

4.67

2.75

4.42

5.16

6.78

4.10

Total Primary Supply⁶

23.85

23.91

25.12

23.27

25.10

25.52

27.16

24.57

Refined Petroleum Products Supplied

  Residential and Commercial

0.99

1.00

1.10

0.93

0.96

0.96

1.09

0.90

  Industrial⁷

5.81

5.83

5.87

5.76

6.03

6.12

6.14

6.02

  Transportation

16.89

16.85

17.12

16.54

17.94

17.90

18.16

17.49

  Electric Generators⁸

0.18

0.27

1.05

0.07

0.17

0.56

1.78

0.18

    Total

23.87

23.95

25.14

23.30

25.10

25.54

27.17

24.60

Discrepancy⁹

-0.03

-0.03

-0.02

-0.03

0.00

-0.02

-0.01

-0.02

L48 End Year Reserves (billion barrels)²

14.05

13.41

11.56

15.26

13.86

13.45

11.22

15.73