U.S. Energy Information Administration logo
Skip to sub-navigation
Filter by article type:
In-depth analysis
Dec 9, 2024

California law and refinery closure reflect ongoing challenges for the state’s fuel market

average regular retail gasoline price, all formulations

Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update

On October 14, California Governor Gavin Newsom signed bill Abx2-1 into law, empowering California regulators to set and adjust minimum petroleum product inventory levels for refiners in the state, in part to address the state’s fuel price volatility. Shortly after, refiner Phillips 66 announced plans to close its Wilmington refinery in Los Angeles by the end of 2025, citing uncertainty surrounding the long-term sustainability of the refinery.

Read More ›
Top
In-brief analysis
Dec 5, 2024

Argentina’s crude oil and natural gas production near record highs

Argentina crude oil and natural gas production

Data source: U.S. Energy Information Administration and Argentina Ministry of Energy (Secretaría de Energía de la República Argentina [SESCO])

Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from the Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields. From January 2021 through September 2024, crude oil production in Argentina increased by 50%, and natural gas production rose by 27%, lifting output of both fuels near the records set in the early 2000s, according to data from the country’s energy ministry, the Secretaría de Energía de la República Argentina (SESCO).

Read More ›
Top
In-brief analysis
Dec 4, 2024

U.S. share of electric and hybrid vehicle sales reached a record in the third quarter

This TIE has been updated to reflect a data correction.

quarterly U.S. light-duty vehicles sales by powertrain

Data source: Wards Intelligence
Note: EV=electric vehicles, including both battery electric and plug-in hybrid electric vehicles

The share of electric and hybrid vehicle sales in the United States increased again in the third quarter of 2024 (3Q24), reaching a record. Combined sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) increased from 19.1% of total new light-duty vehicle (LDV) sales in the United States in 2Q24 to 21.2% in 3Q24, according to estimates from Wards Intelligence.

Read More ›

Tags: vehicles

Top
In-brief analysis
Dec 3, 2024

Small volumes of renewable diesel are now consumed on the U.S. East Coast

monthly U.S. east coast renewable diesel consumption

Data source: U.S. Energy Information Administration, Petroleum Supply Monthly
Note: Consumption is defined as product supplied plus refinery and blender net inputs.

In 2024, the U.S. East Coast became a consistent destination for small volumes of renewable diesel as a few suppliers and local governments began offering or consuming the fuel. Because no renewable diesel is produced on the East Coast, suppliers and local governments are procuring their supply from a combination of imports and interregional U.S. shipments.

Read More ›
Top
In-brief analysis
Dec 2, 2024

U.S. inventories enter the winter with the most natural gas since 2016

Lower 48 states natural gas inventories, end of injection season

Data source: U.S. Energy Information Administration, Weekly Natural Gas Storage Report

Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet (Bcf), according to estimates based on data from our Weekly Natural Gas Storage Report released on November 7. U.S. inventories are starting winter 2024–25 with the most natural gas since 2016. Inventories are currently 6% above the five-year (2019–23) average, despite less-than-average injections into storage throughout the entire injection season, which runs April 1 through October 31. Less natural gas than the five-year average was injected in nearly every week during the 2024 injection season, in part because starting inventories were relatively full.

Read More ›
Top
In-brief analysis
Nov 27, 2024

U.S. gasoline prices this Thanksgiving are at their lowest since 2020

weekly average U.S. regular gasoline retail price

Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update; U.S. Bureau of Labor Statistics

On the Monday before Thanksgiving, the retail price of regular gasoline averaged $3.04 per gallon (gal) across the United States, 7% less than the same time last year. Retail gasoline prices this Thanksgiving are at their lowest since 2020, when the COVID-19 pandemic disrupted gasoline demand.

Read More ›
Top
In-brief analysis
Nov 26, 2024

U.S. crude oil production established a new record in August 2024

monthly U.S. production of crude oil

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

An average of 13.4 million barrels per day (b/d) of crude oil was produced in the United States during August 2024, a new record according to data from our Petroleum Supply Monthly. More crude oil was produced in the United States during August 2024 than during December 2023, when the previous monthly record of 13.3 million b/d was set.

Read More ›
Top
In-depth analysis
Nov 25, 2024

Global natural gas market may experience a tighter supply-demand balance this winter

monthly spot and forward natural gas and LNG prices

Data source: Bloomberg Finance, L.P.
Note: Price curves as of November 21, 2024. Dotted lines represent forward prices. LNG=liquefied natural gas; Asian LNG=the JKM price benchmark (representing spot and forward LNG prices in Japan, South Korea, Taiwan, and China); European natural gas=benchmark prices at the Title Transfer Facility (TTF)

The last two winters in the Northern Hemisphere were exceptionally mild, keeping global natural gas markets well supplied and balanced at relatively low prices. Prices going into this winter are only slightly higher than last year at the same time based on current forward natural gas and liquefied natural gas (LNG) prices in Europe and Asia. If weather remains mild this winter as in the past two winters, we expect a relatively stable global supply-demand balance with prices similar to the previous two winters. But if Europe and Asia experience colder temperatures this winter than in the past two years or other operational and market risks materialize, global supply-demand balances could tighten, leading to elevated natural gas prices and potential price spikes.

Read More ›
Top
In-brief analysis
Nov 21, 2024

U.S. propane inventories are well stocked heading into the winter heating season

U.S. propane inventories

Data source: U.S. Energy Information Administration, Weekly Petroleum Status Report

The United States is well stocked with propane heading into the winter heating season, which runs from November through March, with U.S. propane inventories at the top of the five-year range spanning the winter of 2019–20 to the winter of 2023–24.

Read More ›
Top
In-brief analysis
Nov 20, 2024

What’s driving decreasing gasoline consumption in China?

monthly China gasoline apparent demand

Data source: China National Bureau of Statistics, China General Administration of Customs, and Bloomberg L.P.
Note: We define apparent demand as refinery production plus imports minus exports.

Gasoline consumption in China has begun to fall in recent months amid increased sales of electric vehicles, slow economic growth, and population decline.

Read More ›
Top
In-brief analysis
Nov 19, 2024

Northwest U.S. and western Canadian natural gas prices trade at historic lows in 2024

monthly average natural gas spot prices at Northwest pricing hubs

Data source: Natural Gas Intelligence
Note: Prices are adjusted for inflation based on September 2024 Bureau of Labor Statistics’ Consumer Price Index data.

Monthly average natural gas spot prices at northwestern U.S. and western Canada border pricing hubs reached historic lows in 2024 through October, according to data from Natural Gas Intelligence. Robust natural gas production in western Canada, where output has generally increased over the last two years, and high natural gas inventories in the region contributed to the low prices.

Read More ›
Top
In-brief analysis
Nov 18, 2024

Grid infrastructure investments drive increase in utility spending over last two decades

annual U.S. utility spending on electricity infrastructure by sector

Data source: U.S. Energy Information Administration and Federal Energy Regulatory Commission (FERC) Financial Reports, as accessed by Ventyx Velocity Suite
Note: O&M=operation and maintenance

Annual spending by major utilities to produce and deliver electricity increased 12% from $287 billion in 2003 to $320 billion in 2023 as measured in real 2023 dollars, according to financial reports to the Federal Energy Regulatory Commission (FERC). Capital investment in electric infrastructure mostly drove the increase, more than doubling over the period as:

Read More ›
Top
In-brief analysis
Nov 14, 2024

Most U.S. petroleum coke is exported

disposition of U.S.-produced petroleum coke

Data source: U.S. Census Bureau
Note: This chart includes marketable petroleum coke, except for exports not assigned to ports (less than 1% of exports). It excludes catalyst petroleum coke.

Annual production of U.S. petroleum coke (petcoke) has remained relatively unchanged over the past 10 years (2014–23), averaging 46 million tons according to our analysis of U.S. Census Bureau data. Most U.S. petroleum coke is exported. The United States exported approximately 41 million tons in 2023, slightly more than the 10-year average for total petcoke exports of 40 million tons.

Read More ›
Top
In-brief analysis
Nov 13, 2024

U.S. associated natural gas production increased nearly 8% in 2023

annual natural gas production at major U.S. crude oil-producing regions

Data source: Enverus Drillinginfo
Note: For consistency, the various state pressure bases used to measure natural gas volumes have been converted to the federal pressure base of 14.73 pounds per square inch absolute (psia) and 60°F.

U.S. production of associated-dissolved natural gas, or associated natural gas, increased 7.9% in 2023 compared with 2022, averaging 17.1 billion cubic feet per day (Bcf/d) last year, according to data from Enverus Drillinginfo. Associated natural gas production, which is natural gas produced by wells that predominantly produce oil, comes mainly from five major oil-producing regions in the United States—the Permian, Bakken, Eagle Ford, Anadarko, and Niobrara.

Read More ›
Top
In-depth analysis
Nov 12, 2024

U.S. electricity exports to Canada have increased since September 2023

monthly electricity trade between the United States and Canada

Data source: U.S. Energy Information Administration, Form EIA-111, Quarterly Electricity Imports and Exports Report

For the better part of two decades, Canada has exported significantly more electricity to the United States than it imported. However, in the fall of 2023, electricity trade between the two countries became more balanced. The shift was due partly to Canada’s reduced hydropower generation, the country’s primary source of electricity generation, as drought conditions reduced inflow to reservoirs in western Canada. In addition, lower natural gas prices in the United States reduced power prices, making U.S. electricity more competitive.

Read More ›
Top