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Winter Heating Costs for U.S. Natural Gas Expected to Rise Sharply

Winter Heating Costs for U.S. Natural Gas Expected to Rise Sharply

American households can expect significant increases in home heating costs this winter, including a 30% increase in natural gas expenditures versus last winter, according to the U.S. Energy Information Administration (EIA). The agency said as part of its latest Short-Term Energy Outlook (STEO) that it expects a 3% increase in average U.S. heating degree days…

October 19, 2021
Tech Innovations Boost Permian Oil and Natural Gas Productivity, EIA Says

Tech Innovations Boost Permian Oil and Natural Gas Productivity, EIA Says

Advanced technologies, such as longer lateral wells and multi-well pad drilling, are driving ongoing efficiencies and increased productivity in developing oil and natural gas resources in the prolific Permian Basin, the U.S. Energy Information Administration (EIA) said in a report Tuesday. The Permian, which spans West Texas and southeastern New Mexico, accounted for about 30%…

October 19, 2021
EIA Predicts Big Increases in Winter Heating Costs as Prices Rise for Natural Gas, Other Fuels

EIA Predicts Big Increases in Winter Heating Costs as Prices Rise for Natural Gas, Other Fuels

American households can expect significant increases in home heating costs this winter, including a 30% increase in natural gas expenditures versus last winter, the U.S. Energy Information Administration (EIA) said Wednesday. The agency said as part of its latest Short-Term Energy Outlook (STEO) that it expects a 3% increase in average U.S. heating degree days…

October 13, 2021
With Imports Up, U.S. Crude Inventories Climb a Second Week

With Imports Up, U.S. Crude Inventories Climb a Second Week

Domestic petroleum demand rose last week, but strong crude production and imports ended up driving U.S. inventory gains for a second straight week, the Energy Information Administration (EIA) said. EIA’s Weekly Petroleum Status Report, released Wednesday, showed production climbed to 11.3 million b/d for the week ended Oct. 1, up from 11.1 million b/d the…

October 6, 2021
Oil, Gas to Continue Growing to Meet Rising Global Energy Demand Through 2050, Says EIA

Oil, Gas to Continue Growing to Meet Rising Global Energy Demand Through 2050, Says EIA

Under current policies, oil and natural gas production will continue growing through 2050 amid rising global energy consumption driven by developing Asian economies, according to the latest long-term projections from the U.S. Energy Information Administration (EIA). In its International Energy Outlook 2021(IEO2021) report published Wednesday, the agency predicted a nearly 50% increase in global energy…

October 6, 2021
Global E&P Natural Gas Output Flat and Petroleum Levels Lower in 2Q2021, Says EIA

Global E&P Natural Gas Output Flat and Petroleum Levels Lower in 2Q2021, Says EIA

Global oil and natural gas explorers made some wrong-way bets on the direction of commodity prices during 2Q2021, with hedging losses for 90 of the biggest U.S. and overseas producers totaling $11 billion, the Energy Information Administration (EIA) said Wednesday. The net hedging losses among the world’s largest exploration and production (E&P) companies were the…

September 30, 2021
Production Rebounds as U.S. Petroleum Consumption Drops, but Demand Expected to Bounce Back

Production Rebounds as U.S. Petroleum Consumption Drops, but Demand Expected to Bounce Back

Domestic petroleum demand declined last week, dragged lower by a drop in distillate fuel consumption, while production recovered in the wake of Hurricane Ida, according to the latest U.S. Energy Information Administration (EIA) inventory report. EIA’s Weekly Petroleum Status Report, released Wednesday, showed output climbed to 11.1 million b/d for the week ended Sept. 24.…

September 29, 2021
October Natural Gas Futures Skyrocket Ahead of Expiration, Reach New 2021 High

October Natural Gas Futures Skyrocket Ahead of Expiration, Reach New 2021 High

Natural gas futures sailed higher on Monday, rallying for a third straight session ahead of prompt month expiration and amid a potential global energy supply crunch. The October Nymex contract spiked 56.6 cents day/day and settled at $5.706/MMBtu. October rolls off the board as the prompt month at the close of trading Tuesday. November jumped…

September 27, 2021
U.S. Petroleum Demand, Production Bounce Back Amid Post-Ida Recovery

U.S. Petroleum Demand, Production Bounce Back Amid Post-Ida Recovery

Domestic petroleum demand and production increased notably last week, as the Gulf of Mexico (GOM) energy complex recuperated from the havoc imposed by Hurricane Ida, the latest U.S. Energy Information Administration (EIA) inventory report showed. EIA’s Weekly Petroleum Status Report, released Wednesday, showed production climbed to 10.6 million b/d for the week ended Sept. 17,…

September 22, 2021
October Natural Gas Futures Drop a Third Straight Day on Fading Demand Forecasts

October Natural Gas Futures Drop a Third Straight Day on Fading Demand Forecasts

Natural gas futures faltered on Monday, extending to three days a losing streak that materialized alongside forecasts for cooler temperatures and moderating demand.     The October Nymex contract dropped 12.0 cents day/day and settled at $4.985/MMBtu. November fell 12.4 cents to $5.022. At A Glance: Futures fall amid autumn weather Forecasts call for mild conditions Global…

September 20, 2021
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