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In-depth analysis
Jun 20, 2024

Our estimated rate of U.S. natural gas vented or flared declined in 2023

monthly U.S. natural gas gross withdrawals and reported vented and flared

Data source: U.S. Energy Information Administration, Natural Gas Annual and Natural Gas Monthly; estimates for 2023 venting and flaring: federal and state administrative data
Note: The Natural Gas Annual relies on vented and flared natural gas data reporting by states, including Alaska, California, Colorado, Louisiana, New Mexico, North Dakota, Texas, Utah, and Wyoming.

We estimate the annual reported volume of natural gas that is vented or flared in the United States declined to 0.5% of gross withdrawals in 2023, based on preliminary state and federal data. We estimate this percentage will be the lowest rate of venting and flaring recorded in 18 years.

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In-brief analysis
Jun 18, 2024

U.S. refinery capacity increased 2% in 2023

U.S. refinery atmospheric distillation capacity on Jan 1

Data source: U.S. Energy Information Administration, Refinery Capacity Report

Operable atmospheric crude oil distillation capacity, our primary measure of refinery capacity in the United States, increased by 2%, or 324,000 barrels per day (b/d), in 2023, according to our recently published Refinery Capacity Report.

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In-brief analysis
Jun 17, 2024

PJM has been dispatching coal-fired generators less than other generators

annual PJM electricity capacity factor

Data source: U.S. Energy Information Administration, Annual Electric Generator Report and Power Plant Operations Report

Use of the coal fleet in PJM, the country’s largest wholesale electricity market, has fallen over the last decade, driven largely by higher relative fuel costs. Much of the competitive pressure has come from the significant build out of efficient natural gas combined-cycle plants, the capacity of which has doubled in PJM since 2013.

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In-brief analysis
Jun 14, 2024

New Mountain Valley Pipeline to begin operations

Corrected on June 14 to accurately reflect the current status of the Equitrans Midstream Corporation acquisition.

mountain valley pipeline

Data source: U.S. Energy Information Administration

On June 11, the Federal Energy Regulatory Commission (FERC) authorized the Mountain Valley Pipeline (MVP) to begin operations. MVP, 303 miles long, can move up to 2.0 billion cubic feet per day (Bcf/d) of natural gas from Wetzel County, West Virginia, to an interconnection with Transcontinental Gas Pipeline’s (Transco) compressor station 165 in Pittsylvania County, Virginia. Transco delivers natural gas through a 10,000-mile interstate transmission pipeline system extending from South Texas to New York.

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In-depth analysis
Jun 13, 2024

Typical residential electricity bills could be slightly higher this summer

monthly U.S. average residential electricity metrics

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), June 2024
Data values: U.S. Regional Electricity Sales to Ultimate Customers and U.S. Regional Electricity Prices to Ultimate Customers

This summer—June through August—we expect that residential customers’ monthly electricity bills will average $173 in the United States, slightly higher than last summer’s average of $168. We expect that more electricity consumption, resulting from our assumption that summer temperatures will be warmer this year, will be partially offset by lower residential electricity prices in most areas of the country.

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In-brief analysis
Jun 12, 2024

EIA expands coverage of crude oil and natural gas production with regional forecast

Updated June 20, 2024 to correct headings in first two charts.

monthly U.S. crude oil production by region

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), June 2024
Note: L48=Lower 48 states

Beginning with this month’s Short-Term Energy Outlook (STEO), we are including new regional crude oil and natural gas production forecasts to provide a more complete breakout of U.S. Lower 48 (L48) states production data.

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In-brief analysis
Jun 11, 2024

Red Sea disruptions increase oil flows around Cape of Good Hope

monthly total petroleum liquid flows around Cape of Good Hope

Data source: Vortexa tanker tracking data
Note: May 2024 is preliminary data.

The amount of crude oil and oil products flowing around the Cape of Good Hope, located at the southern tip of Africa, increased nearly 50% in the first five months of 2024 compared with the 2023 average as commercial vessels avoided chokepoints in the Middle East.

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In-brief analysis
Jun 10, 2024

NERC reports some U.S. regions at risk for energy shortfalls in extreme summer conditions

risk of electricity supply shortfalls this summer, according to NERC's summer reliability assessment

Data source: North American Electric Reliability Corporation (NERC), 2024 Summer Reliability Assessment

Parts of the United States could be at risk for electricity supply shortages if electricity demand peaks are higher than anticipated or if less electricity is generated than expected, according to the North American Electric Reliability Corporation’s (NERC) 2024 Summer Reliability Assessment. Under normal summer demand conditions, NERC expects the continental United States to have adequate power resources this year.

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In-brief analysis
Jun 6, 2024

Electrolyzers are a small but growing source of U.S. hydrogen production

U.S. planned, installed, and under construction electrolyzer capacity

Data source: U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy

Developers in the United States have plans to expand hydrogen production using technologies that make use of electricity, an early sign that hydrogen production could move away from its current reliance on hydrocarbon feedstocks in the coming years.

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In-brief analysis
Jun 5, 2024

Longer maritime routes mean more fuel consumed in shipping following Red Sea attacks

Singapore monthly bunker fuel sales

Data source: Maritime and Port Authority of Singapore, Bloomberg L.P.
Note: April 2024 data are preliminary estimates.

Sales of bunker fuel in Singapore, the world’s largest bunkering fuel port, have increased to all-time highs, indicating increased global consumption as cargo ships, tankers, and other marine vessels take longer routes to avoid the Red Sea. Ship operators have been avoiding the Red Sea following Yemen-based Houthi militia attacks that began in November 2023.

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In-brief analysis
Jun 4, 2024

U.S. natural gas prices calmed after a volatile 2022

natural gas 30-day historical price volatility

Data source: Bloomberg L.P.
Note: Annualized percentage, a widely used trading measure of price volatility, is the standard deviation for the previous 30 days of daily changes in the Henry Hub front-month futures price multiplied by the square root of 252 (number of trading days in a year) multiplied by 100. Percentages are averages for that period.

As average prices of U.S. natural gas fell in 2023, natural gas prices also became less volatile compared with 2022. Historical volatility, a measure of daily price changes relative to average prices, eased from the recent highs reached in 2022. The measure of historical volatility we use here, which relates short-term price movements to average prices over a defined period, reached 171% for U.S. wholesale natural gas in February 2022, the most volatile since at least 1994. This 30-day historical volatility of U.S. natural gas prices is based on the U.S. benchmark Henry Hub front-month futures price. It averaged 69% in 2023 compared with 91% across all of 2022.

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In-brief analysis
Jun 3, 2024

Lower energy prices reduced the trade value between Canada and the United States in 2023

Corrected on June 5 to update the data source for chart 2.

annual value of selected energy trade between the United States and Canada

Data source: Standard International Trade Classification data published by the U.S. Census Bureau
Note: Prices are adjusted for inflation.

The value of energy trade between the United States and Canada decreased in 2023 from the record set in 2022 as energy prices fell, according to data from the U.S. Census Bureau. Although the amount of energy traded between the two countries was largely flat in 2023, the value decreased by 20% when adjusted for inflation to $152 billion.

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In-brief analysis
May 30, 2024

Our U.S. summer natural gas consumption forecast for electric power matches 2023 record

U.S. average summer natural gas consumption in the electric power sector

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), May 2024

We forecast that the natural gas consumed for electricity generation this summer in the United States will reach near the record set last year. Despite a 3% increase in overall U.S. electricity generation this summer, we do not expect natural gas consumption for electricity generation to grow. Growth in electricity generation will be largely driven by increased renewable energy production. In our May 2024 Short-Term Energy Outlook (STEO), we forecast natural gas consumed to generate electricity will average 44.7 billion cubic feet per day (Bcf/d) in the United States during the peak summer months of June through August, matching the record high set in the summer of 2023.

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In-brief analysis
May 29, 2024

Congo Brazzaville becomes a liquefied natural gas-exporting country

annual total dry natural gas production in Congo Brazzaville

Data source: U.S. Energy Information Administration, International Energy Statistics database and Country Analysis Brief: Congo Brazzaville

After years of either declining or stable domestic natural gas production, the Republic of the Congo, also known as Congo Brazzaville, began exporting liquefied natural gas (LNG) for the first time when the first phase of a two-phase floating LNG (FLNG) project began operating in February 2024. The development of LNG export capacity will allow the country to monetize natural gas production that was previously either flared or reinjected into oil wells.

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In-depth analysis
May 28, 2024

U.S. biodiesel imports have doubled since 2022 due to low prices in Europe

Updated June 12 to clarify EU’s limits on the share of biofuels applies to those produced from food and feed crops.

U.S. biodiesel imports

Data source: U.S. Energy Information Administration, Petroleum Supply Monthly

Annual U.S. biodiesel imports doubled from 2022 to 2023 to 33,000 barrels per day (b/d) and continued to rise in the first two months of 2024, according to the most recent data available. Much of the increase in biodiesel imports has come from Germany, and the remaining increase has come mostly from elsewhere in Europe, where a biodiesel surplus has lowered prices.

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