November 3, 2020 Source: U.S. Energy Information Administration, derived from data published in the October 2020 Short-Term Energy Outlook (STEO) The U.S. Energy Information Administration (EIA) forecasts that members of the Organization of the Petroleum Exporting Countries (OPEC) will earn about $323 billion in net oil export revenues in 2020. If realized, this forecast … [Read more...] about OPEC members' net oil export revenue in 2020 expected to drop to lowest level since 2002
EIA forecasts more residential natural gas consumption this winter than last
November 2, 2020 In the October 2020 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecasts that residential natural gas consumption for the 2020–21 winter season (October–March) will average 21.1 billion cubic feet per day (Bcf/d), 5% more than last winter. EIA expects more residential natural gas consumption because of forecasts … [Read more...] about EIA forecasts more residential natural gas consumption this winter than last
U.S. biodiesel production capacity declined slightly in 2019
According to the most recent data, annual U.S. biodiesel production capacity decreased by 2%, or 49 million gallons, between January 2019 and January 2020. As of January 2020, biodiesel production capacity in the United States totaled 2.5 billion gallons (gal) per year, or 164,000 barrels per day (b/d), according to the U.S. Energy Information Administration's (EIA) annual U.S. … [Read more...] about U.S. biodiesel production capacity declined slightly in 2019
Natural gas prices and renewable capital costs affect the generation mix in China
In the International Energy Outlook 2020 (IEO2020), the U.S. Energy Information Administration (EIA) projects that electricity generation in Asia will more than double between 2019 and 2050. EIA analyzed the impacts of changing the price of natural gas and the capital costs associated with adding renewable energy power plants on the future electricity generation mix in China … [Read more...] about Natural gas prices and renewable capital costs affect the generation mix in China
Crude oil tanker rates are likely to remain low until global petroleum demand increases
October 28, 2020Source: U.S. Energy Information Administration, based on Bloomberg, L.P. In March and April 2020, reduced demand for crude oil and petroleum products in response to COVID-19 mitigation efforts led to a sharp increase in global crude oil inventories. As onshore inventories increased, market participants turned to using oil tankers to store oil, which is typically … [Read more...] about Crude oil tanker rates are likely to remain low until global petroleum demand increases