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2021 Congressional Testimony

EIA's view on Domestic and International Energy Price Trends pdf
Subject:EIA, forecasts, energy markets
Presented by:Stephen Nalley, Deputy Administrator
Presented to: U.S. Senate Committee on Energy and Natural Resources
Washington, DC—November 16, 2021

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Proved reserves of U.S. crude oil and lease condensate declined by 19% during 2020

U.S. crude oil and lease condensate proved reserves
Source: U.S. Energy Information Administration, Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2020

Because of lower oil prices in the first year of the COVID-19 pandemic, U.S. operators reported a 19% reduction in proved reserves of crude oil and lease condensate in 2020, according to our Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2020 report. Proved reserves totaled 38.2 billion barrels for the year.

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