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Global crude oil balances expected to tighten through 2018

(Wed, 25 Jan 2017) EIA estimates that crude oil and other liquids inventories grew by 2.0 million barrels per day (b/d) in the fourth quarter of 2016, driven by an increase in production and a significant, but seasonal, drop in consumption. Global production and consumption are both projected to increase through 2018, but consumption is expected to increase at a faster rate than production. As a result, global balances are expected to tighten.

January 24, 2017 By 0 Comments Read more...

With low oil prices in 2016, federal revenues from energy on federal lands again declined

(Tue, 24 Jan 2017) In fiscal year (FY) 2016, the U.S. government collected almost $6 billion in revenues from royalties, rental costs, and other fees from activities related to energy production on federal and American Indian lands, according to the Department of Interior’s Office of Natural Resource Revenue. These activities include the production of coal, oil, natural gas, and hydrocarbon gas liquids (HGLs) as well as, more recently, renewables.

January 23, 2017 By 0 Comments Read more...

Natural gas prices in 2017 and 2018 are expected to be higher than last year

(Mon, 23 Jan 2017) In its January 2017 <em>Short-Term Energy Outlook</em> (STEO), EIA expects the Henry Hub natural gas spot price to average $3.55 per million British thermal units (MMBtu) in 2017 and $3.73/MMBtu in 2018, both higher than the 2016 average of $2.51/MMBtu. Higher prices in 2017 and 2018 reflect natural gas consumption and exports exceeding supply and imports, leading to lower average inventory levels.

January 22, 2017 By 0 Comments Read more...

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