STEO (Short-Term Energy Outlook)

Global crack spreads remain low amid slow oil demand recovery and high stocks

October 8, 2020

EIA In its latest Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) estimates that third-quarter 2020 global liquid fuels consumption averaged 94.2 million barrels per day (b/d), an increase from the second quarter but significantly lower than the same time last year. The slow recovery has contributed to low gasoline and diesel crack spreads and high petroleum product stocks in three major

EIA forecasts U.S. petroleum demand will remain below 2019 levels for several more months

July 21, 2020

EIA Consumption of U.S. liquid fuels fell in March and April 2020 as a result of reduced travel related to COVID-19 and its mitigation measures. The U.S. Energy Information Administration’s (EIA) July Short-Term Energy Outlook (STEO) forecasts that U.S. consumption of total petroleum and other liquid fuels will continue increasing in the second half of 2020 as economic activity increases, but levels

U.S. liquefied natural gas exports have declined by more than half so far in 2020

June 23, 2020

EIA Daily natural gas deliveries to U.S. facilities that produce liquefied natural gas (LNG) for export were a record 9.8 billion cubic feet per day (Bcf/d) in late March 2020, but deliveries fell to less than 4.0 Bcf/d in June, according to data by IHS Markit. A mild winter and COVID-19 mitigation efforts have led to declining global natural gas

EIA forecasts U.S. crude oil production to decline because of low oil prices – STEO foretasted below $45 per barrel through 2021

April 15, 2020

EIA In the April 2020 update of its Short-Term Energy Outlook (STEO), released on April 7, and before a recently announced agreement by oil producing countries to limit production, the U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 11.8 million barrels per day (b/d) in 2020, a 4% decline from the 2019 production levels. Crude oil production

EIA forecasts natural gas inventories will reach record levels later this year

February 24, 2020

EIA In the U.S. Energy Information Administration’s (EIA) February Short-Term Energy Outlook (STEO), EIA forecasts that the Lower 48 states’ working natural gas in storage will end the 2019–20 winter heating season (November 1–March 31) at 1,935 billion cubic feet (Bcf), with 12% more inventory than the previous five-year average. This increase is the result of mild winter temperatures and continuing strong

EIA expects U.S. net natural gas exports to almost double by 2021

January 23, 2020

EIA EIA forecasts these deliveries to account for an increasingly larger share through 2021 as new LNG facilities are placed in service and new pipelines in Mexico that connect to U.S. export pipelines begin operations. In its Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas

EIA expects U.S. energy-related CO2 emissions to decrease annually through 2021

January 18, 2020

EIA Coal-fired generation alone has fallen from 28% in 2018 to 24% in 2019 and will fall further to 21% in 2020 and 2021. The natural gas-fired generation share rises from 37% in 2019 to 38% in 2020, but it declines to 37% in 2021. In its latest Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA)

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