Eia

The United States’ crude oil inventories — excluding those in the Strategic Petroleum Reserve — declined by 9.9 million bbl last week as imports fell and demand was met increasingly with domestic supplies, according to the Energy Information Administration (EIA). In its Weekly Petroleum Status Report for the period ended Jan. 22, EIA said that,…

Lower 48 oil and gas producers have drawn down their inventory of drilled but uncompleted (DUC) wells to pre-pandemic levels, reflecting an improved commodity pricing and demand outlook, according to new analysis by Rystad Energy. After reaching a multiyear high of 6,548 wells last June, the DUC count in the country’s major oil regions fell…

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…

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…

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…

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 —…

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…

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…

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…