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Haynesville Stands Out as Only U.S. Natural Gas Basin to See Higher Output in February, Says EIA

Haynesville Stands Out as Only U.S. Natural Gas Basin to See Higher Output in February, Says EIA

Cumulative natural gas production from seven key U.S. onshore regions is set to fall by 472 MMcf/d from January to February, extending a downtrend that goes back to early 2020, according to updated projections published Tuesday by the Energy Information Administration (EIA). In its latest Drilling Productivity Report, EIA said it expects the Anadarko, Appalachian…

January 20, 2021
Natural Gas Storage Withdrawal Eclipses Expectations but Fails to Boost Futures

Natural Gas Storage Withdrawal Eclipses Expectations but Fails to Boost Futures

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 134 Bcf from natural gas storage for the week ended Jan. 8. The result exceeded both the year-earlier pull and the midpoint of analysts’ estimates, but it fell short of fueling Nymex natural gas futures. It was “a stronger draw than we estimated…reflecting…

January 14, 2021
Henry Hub to Rebound, Oil to Move Higher in 2021, EIA Says

Henry Hub to Rebound, Oil to Move Higher in 2021, EIA Says

Natural gas prices are poised to rebound in 2021, with Henry Hub spot prices on track to average $3.01/MMBtu for the year, nearly $1 higher than 2020 prices, according to updated projections from the U.S. Energy Information Administration (EIA). In its first Short-Term Energy Outlook of the new year, published Tuesday, the agency offered up…

January 13, 2021
U.S. Petroleum Inventories Drop as Producers Hold Line on Output, EIA Says

U.S. Petroleum Inventories Drop as Producers Hold Line on Output, EIA Says

U.S. petroleum inventories declined during the week ended Jan. 8, the U.S. Energy Information Administration (EIA) said Wednesday, as overall demand increased and production held steady. EIA said in its Weekly Petroleum Status Report that total U.S. commercial petroleum inventories decreased by 9.4 million bbl in the week ended Jan. 8. Crude oil inventories —…

January 13, 2021
EIA Reports Draw on U.S. Crude Stocks, but Petroleum Demand Also Down to Close Out 2020

EIA Reports Draw on U.S. Crude Stocks, but Petroleum Demand Also Down to Close Out 2020

U.S. crude oil stocks declined by 8 million bbl during the week ended Jan. 1, although demand for petroleum products also fell sharply for the period, according to updated statistics published Wednesday by the Energy Information Administration (EIA). EIA said in its latest Weekly Petroleum Status Report that domestic crude inventories, excluding the Strategic Petroleum…

January 6, 2021
U.S. Crude Inventories Fall Amid Modest Uptick in Demand, EIA Reports

U.S. Crude Inventories Fall Amid Modest Uptick in Demand, EIA Reports

U.S. crude oil stockpiles shrank by 6.1 million bbl during the week leading up to Christmas amid modest increases in demand for both motor gasoline and jet fuel, according to inventory data published Wednesday by the Energy Information Administration (EIA). Crude stockpiles excluding the Strategic Petroleum Reserve decreased 0.5% to finish at 493.5 million bbl…

December 31, 2020
EIA’s 114 Bcf Storage Draw Well Below Expectations, but Natural Gas Bears’ Celebrations Cut Short

EIA’s 114 Bcf Storage Draw Well Below Expectations, but Natural Gas Bears’ Celebrations Cut Short

For the second week in a row, the Energy Information Administration (EIA)’s weekly natural gas storage inventory report surprised to the downside, showing a much smaller-than-expected 114 Bcf withdrawal from stocks for the week ending Dec. 25. However, natural gas market bears who were hoping to pop champagne after the EIA report were disappointed, as…

December 31, 2020
U.S. Crude Stocks Fell Amid Stronger Exports Last Week as Holiday Demand Sagged, EIA Says

U.S. Crude Stocks Fell Amid Stronger Exports Last Week as Holiday Demand Sagged, EIA Says

U.S. demand for petroleum products eased lower last week and lagged well behind year-ago levels, although commercial crude stockpiles declined by 600,000 bbl for the period amid an increase in exports, the Energy Information Administration (EIA) said Wednesday. A gauge for domestic demand, EIA reported 19.088 million b/d of total products supplied during the most…

December 23, 2020
U.S. Crude Oil Inventory Declines; Weekly Demand Increases But Remains Modest, EIA Says

U.S. Crude Oil Inventory Declines; Weekly Demand Increases But Remains Modest, EIA Says

After jumping a week earlier, domestic oil inventories dropped during the week ended Dec. 11, the U.S. Energy Information Administration (EIA) said Wednesday.   EIA said in its Weekly Petroleum Status Report that U.S. commercial crude oil inventories — excluding those in the Strategic Petroleum Reserve — decreased by 3.1 million bbl from the prior week.…

December 17, 2020
U.S. LNG Exports Sail to Record Levels in November, Says EIA

U.S. LNG Exports Sail to Record Levels in November, Says EIA

After sinking to their lowest levels in more than two years over the summer, U.S. liquefied natural gas exports surged to a record high in November, according to the Energy Information Administration (EIA). The agency said U.S. LNG exports reached 9.4 Bcf/d last month, surpassing the previous record set in January on strong global demand…

December 16, 2020
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