EIA forecast

American crude production rebounded last week, returning to its 2022 peak level just as President Biden visited Saudi Arabia to urge the Kingdom to ramp up Middle East output. After reaching a 2022 high of 12.1 million b/d in June, U.S. output fell to 11.9 million b/d for the period ended July 15. That marked…

Colombia might need to up imports of natural gas in the years ahead, especially if its new president plans to end oil and gas rounds. Recently imports have been filling the gap between domestic natural gas production and domestic demand. In 2020, 399 Bcf of dry natural gas was produced in Colombia, and 413 Bcf…

U.S. LNG exports are now expected to drop to 10.5 Bcf/d in the second half of this year following the prolonged outage at the Freeport LNG terminal on the Texas coast, the Energy Information Administration (EIA) said in an updated forecast. The 10.5 Bcf/d estimate for liquefied natural gas exports in the second half of…

Natural gas production from seven key U.S. onshore regions is set to surge 781 MMcf/d higher from June to July, paced by the Haynesville Shale and the Appalachian Basin, updated modeling from the Energy Information Administration (EIA) shows. The Appalachia and Haynesville regions are on pace to grow output by 231 MMcf/d and 226 MMcf/d,…

The Energy Information Administration (EIA) is modeling sizable natural gas production increases from several major plays next month, including the Appalachian Basin and the Haynesville Shale. Total natural gas production from seven key onshore regions is set to climb 750 MMcf/d from May to June, reaching 91.750 Bcf/d, the agency said in its latest Drilling…

Brent crude oil prices are on track to average $107/bbl in the second quarter and $103 in the second half of this year, with low inventories creating the potential for “significant price volatility,” according to the latest projections from the Energy Information Administration (EIA). Brent spot prices averaged $105 in April, a $13 sequential decrease,…

With storage levels expected to lag behind the five-year average this summer, Henry Hub natural gas spot prices will soar to $8.59/MMBtu on average in the second half of this year, according to updated forecasting from the Energy Information Administration (EIA). Henry Hub prices are forecast to average $7.83 for the second quarter after averaging…

U.S. dry natural gas production should average 96.9 Bcf/d in April and 97.4 Bcf/d for full-year 2022, which would reflect a 3.8 Bcf/d increase over 2021 levels, according to updated forecasting from the Energy Information Administration (EIA). As the market has keyed in on supply adequacy fears and sent prices soaring well above $6.500/MMBtu this…

If U.S. natural gas infrastructure is not expanded to meet growing demand, prices would escalate and more electricity generation is likely from renewables, coal and nuclear sources over the next three decades, according to federal researchers. In the U.S. Energy Information (EIA) Annual Energy Outlook 2022 (AEO2022) issued in March, the reference case – the…