Eia

Domestic crude production climbed to the highest level since 2020 as demand for petroleum products pushed ahead last week, the U.S. Energy Information Administration (EIA) said Wednesday. American producers generated 12.3 million b/d for the week ended Feb. 3, up by 100,000 b/d from the prior week, data from EIA’s latest Weekly Petroleum Status Report…

Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu. At A Glance: Production recovering Weather…

Employment in the U.S. oilfield services and equipment sector (OFS) advanced in January along with an overall surge in jobs to start the new year. OFS employment rose by an estimated 3,069 jobs to 652,090 last month, according to an analysis of federal data by the Energy Workforce & Technology Council. The January increase made…

The Energy Information Administration (EIA) estimated this year will bring the lowest amount of LNG export capacity additions in a decade, exacerbating expectations for a tight global natural gas market through 2025. In a recent report, EIA researchers projected four liquefied natural gas export projects would come online across the world this year, adding a…

Domestic crude production matched the pandemic-era peak, while demand last week declined and extended a trend early in 2023. The U.S. Energy Information Administration (EIA) said Wednesday output for the period ended Jan. 20 clocked in at 12.2 million b/d – matching the high mark of the past two years and on par with the…

Natural gas futures resumed a downward spiral on Thursday after a hefty but disappointing storage withdrawal failed to impress markets, leaving traders to focus on forecasts for mild weather and diminished demand through January. At A Glance: EIA prints 221 Bcf draw Production bounces back Demand begins to fade The February Nymex gas futures contract…

Domestic oil production bounced back to near pandemic-era highs in the final week of 2022, while demand plummeted following a run-up to the Christmas holiday. The U.S. Energy Information Administration (EIA) said Thursday output for the period ended Dec. 30 climbed 100,000 b/d week/week to 12.1 million b/d. That put production within 100,000 b/d of…

U.S. and global crude prices opened the New Year mired in a slump, led lower by uneven domestic demand and hints of global sluggishness amid intensifying expectations of recession. After dropping Tuesday, West Texas Intermediate (WTI) prices in the United States slid below $74/bbl in intraday trading Wednesday, down more than 4%. Brent crude, the…

U.S. proved reserves of natural gas jumped 32% year/year in 2021 to set a new record as demand bounced back following the Covid-19 pandemic and prices increased, the Energy Information Administration (EIA) said Friday in an annual update of the figures.   Proved gas reserves, or estimates defined as economically recoverable, reached 625.4 Tcf in 2021,…