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Posted September 14, 2022Today in Energy

EIA forecasts record U.S. natural gas consumption in 2022 ›

In our September Short-Term Energy Outlook (STEO), we expect natural gas consumption to increase by 3.6 billion cubic feet per day (Bcf/d) in the United States during 2022 to average 86.6 Bcf/d for the year, the most annual U.S. natural gas consumption on record. We forecast that U.S. natural gas consumption will increase in all end-use sectors this year. We expect the U.S. electric power sector to grow by 4% in 2022 to 32.1 Bcf/d, exceeding the 2020 record by 1%, which is the highest growth rate among all sectors. More

US annual natural gas consumption by sector (2014-2023)

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), September 2022

Data Highlights

WTI crude oil futures price

9/13/2022: $87.31/barrel

up$0.43 from week earlier
up$16.86 from year earlier

Natural gas futures price

9/13/2022: $8.284/MMBtu

up$0.139 from week earlier
up$3.053 from year earlier

Retail gasoline price

9/12/2022: $3.690/gal

down$0.056 from week earlier
up$0.525 from year earlier

Crude oil inventories

9/9/2022: 429.6 million barrels 

up2.4 million barrels from week earlier
up12.2 million barrels from year earlier

Weekly coal production

9/3/2022: 12.500 million tons

down0.071 million tons from week earlier
up1.117 million tons from year earlier