EIA predicts that heating US homes with electricity will cost more than it did last winter
The Energy Information Administration reported on Wednesday that U.S. homes heated by electricity primarily will spend 4% more to stay warm this winter, due to forecasts of higher power prices. The demand for electricity will likely outpace supply due to the growth of data centers, which are driving the AI boom. Also, the electrification and automation of other industries, such as transportation, should result in higher prices for American consumers.
As US onshore oil growth slows, will improved drilling boost Gulf of Mexico offshore oil production?
Analysts and consultants predict that offshore investment will continue to grow as new technology and more friendly regulations encourage investment. In recent years, the offshore oil and natural gas sector has been overshadowed by shale because it requires more upfront investment and years of construction. The entry costs for shale were lower and the returns faster, so the rapid expansion of shale led to the U.S. becoming the top oil producer in the world. The U.S.
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation for the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August.
ARM Energy to Invest $2.3b in Mustang Express Pipeline
ARM Energy Holdings said on Thursday it has reached a final investment decision on its $2.3 billion Mustang Express Pipeline project in Texas, along with its partner Pacific Investment Management Company.ARM, an energy marketing firm, said the project benefits from a long-term agreement with Sempra for shipment of natural gas for its Port Arthur LNG Phase 2 project, which recently achieved its own final investment decision.Earlier this month…
US crude stockpiles rise, fuel inventories fall, EIA says
The Energy Information Administration reported on Wednesday that U.S. crude stockpiles increased while gasoline and distillate stocks fell. The EIA reported that crude inventories increased by 3.7 millions barrels, to 420.3million barrels for the week ending October 3. This was a far cry from the 1.9 million barrels analysts had predicted in a recent poll. The EIA reported that crude stocks at Cushing, Oklahoma's delivery hub, fell by 763,000 barges in a week. The U.S.
EIA increases US oil production forecast and warns that oversupply could lead to a price drop
The Energy Information Administration announced on Tuesday that U.S. crude oil production will be higher than expected this year. However, it warned of a glut in oil prices for the months to come. According to the Department of Energy's statistics arm, U.S. oil output is expected to average 13,53 million barrels a day in 2013, up from the previous forecast of 13,44 million bpd. Last year's record oil production was 13.23 barrels per day.
EIA: US power consumption will reach new highs by 2025 and 26.
The Energy Information Administration's short-term energy forecast on Tuesday predicted that U.S. electricity consumption would reach record levels in 2025 and in 2026. The EIA predicted that power demand would rise to 4,191 kilowatt hours in 2025, and 4,305 kilowatt hours in 2026. This is up from the record 4,097 kWh of 2024. These increases are due to the data centers that focus on artificial intelligence…
EIA: U.S. propane stocks well-stocked for winter heating season
U.S. Energy Information Administration reported on Tuesday that the U.S. has a good supply of propane for the winter. The EIA reported that the U.S. inventory of propane for the week ending September 26 was 103,000,000 barrels. This is about 13,000,000 barrels higher than the five-year average at this time, according to data taken from its weekly Petroleum Status Report. Propane inventories can be used to determine the supply and demand of propane.
Baker Hughes reports that US oil and gas drillers have reported the same number of rigs for the week, 549.
Baker Hughes, a leading energy services company in the United States, said that this week U.S. firms kept the number oil and gas rigs almost unchanged. In the week ending October 3, the rig count, including a miscellaneous group, which is an early indicator of future production, remained at 549. Baker Hughes reported that the total number of rigs was 36, or 6.2% lower than this time last. Baker…
EIA: US crude and fuel stocks rise due to lower demand
The Energy Information Administration reported on Wednesday that U.S. crude, gasoline, and distillate inventory levels increased last week, as demand and refining activity slowed. The EIA reported that crude inventories increased by 1.8million barrels, to 416.5million barrels for the week ending September 26. This was compared to analysts' expectations in an online poll of a one-million barrel increase.
US Crude Oil Production Hits Record, says EIA
The Energy Information Administration reported on Tuesday that U.S. crude production reached a new monthly record of 13,64 million barrels of oil per day in the month July. This is up 109,000 barrels per days from June's previous record.The EIA reported that the oil output of Texas, the top producer, rose to 5,8 million barrels per day (bpd) in July. This was the highest level since October 2024.
Baker Hughes reports that the US oil and gas rig counts have reached their highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the fourth consecutive week for the first since February. The number of oil and gas drilling rigs, a good indicator of future production, increased by seven in the week ending September 26 to 549, its highest level since June. Baker Hughes reported that despite this week's increase in rigs the total count is still 38 rigs or 6% lower than this time last year.
Baker Hughes reports that the US oil and gas rig count has reached its highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for a fourth consecutive week for the first since February. In the week ending September 26, the oil and gas rig counts, a leading indicator of future production, increased by seven, to 549, its highest level since June. Baker Hughes reported that oil rigs increased by six this week to 424, the highest level since July.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since February. In the week ending September 19, the oil and gas rig counts, a good indicator of future production, increased by three, to 542. This is its highest level since July. Baker Hughes reported that despite this week's increase in rigs the total number was still 46 rigs or 8% lower than this time last year.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since February. Oil and gas rig counts, an early indicator for future production, increased by three in the week ending September 19. This is their highest level since July. Baker Hughes reported that despite the increase in rigs this week, the total number of rigs was still 46, or 8%, below what it was at this time last.
EIA reports that US Northeast imports of electricity from Canada have dropped.
The U.S. Energy Information Administration said that the decline in electricity imports into New York Independent System Operator, (NYISO), and Independent System Operator New England, (ISO-NE), was due to the drought conditions in Canada as well as lower demand for electricity in Northeastern United States. The EIA reported that imports to New York's NYISO dropped to 25% from 2022 levels between January and August 2025.
EQT CEO: US could experience LNG oversupply between 2027 and 2029
Toby Rice told reporters on Thursday that the U.S. may experience a glut of liquefied gas in 2027-2029 but it will be tightening by 2030. Rice spoke on the sidelines a conference held in Houston. Patrick Pouyanne, CEO of TotalEnergies, warned in a recent statement that if all U.S. gas projects are completed as planned there could be a glut on the market. According to the U.S. Energy Information Administration, the U.S.
EIA: US crude inventories drop sharply after net imports reach record lows
The Energy Information Administration reported on Wednesday that U.S. crude stockpiles declined sharply as net imports plunged to a new record low, while exports jumped to a nearly two-year high. The EIA reported that gasoline inventories declined unexpectedly during the week ending September 12 while distillate stocks rose more than expected. The EIA reported that crude stocks dropped by 9.3 millions barrels to 415.4 million last week…
Oil Prices Ease Lower As Investors Await Federal Reserve Decision on Interest Rates
Oil prices eased on Wednesday after data showing an increase in U.S. diesel stockpiles stoked worries about demand, while investors awaited the U.S. Federal Reserve's decision on interest rates.Brent crude futures lost 25 cents, or 0.37%, to $68.22 a barrel by 1:20 p.m. EDT (1720 GMT) while U.S. West Texas Intermediate crude futures were down 21 cents, or 0.33%, at $64.31.U.S. crude inventories fell sharply last week with a jump in exports and a sharp decline in imports…