High-Impact Oil And Gas Drilling Makes A Comeback
Tsvetana Paraskova, Oilprice.com- Jan 25, 2022, 1:30 PM CST High-impact well drilling activity returned to growth in 2021 after a decade-low in 2020 when the pandemic and crash in demand…
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Crude oil prices increased in 2021 as global crude oil demand outpaced supply
Source: Graph by the U.S. Energy Information Administration, based on data from Refinitiv Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy…
High global demand, low global supply contribute to rising U.S. propane spot prices
Source: Graph by the U.S. Energy Information Administration, based on data from Refinitiv, an LSEG business Since mid-September 2020, wholesale propane prices at Mont Belvieu, Texas, the main U.S. hydrocarbon gas liquids…
Hurricane Ida disrupted crude oil production and refining activity
Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO) On Sunday, August 29, Hurricane Ida made landfall near Port Fourchon, Louisiana, as a Category 4 hurricane. As a result of the hurricane, 96% of crude oil…
EIA releases plant-level U.S. biofuels production capacity data
Source: U.S. Energy Information Administration, 2021 Biodiesel Plant Production Capacity As of January 1, 2021, total U.S. biofuels plant production capacity reached 21 billion gallons per year (gal/y) (or 1.3 million…
Six U.S. states accounted for over half of the primary energy produced in 2019
Source: U.S. Energy Information Administration, State Energy Data System In 2019, the top six primary energy-producing states—Texas, Pennsylvania, Wyoming, Oklahoma, West Virginia, and North Dakota—accounted for 55 quadrillion British thermal units (quads),…
Number of drilled but uncompleted wells declines
Based on our latest Drilling Productivity Report (DPR), there were 5,957 drilled but uncompleted wells (DUCs) in all DPR regions in July 2021, the fewest in any month since November 2017…
OPEC petroleum production forecast revised down for 2021
Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), August 2021 In our August Short-Term Energy Outlook (STEO), the EIA forecasts that total world petroleum production will average 98.9 million barrels per day (b/d)…
Texas’s Midland Basin accounted for 15% of U.S. crude oil production in 2020
Source: Graph by the U.S. Energy Information Administration (EIA), based on EIA’s Petroleum Supply Monthly (U.S. and Texas) and data from Enverus Inc. (Midland Basin and its formations) Texas’s Midland Basin is part…
This Week in Petroleum
Low gasoline inventories and reduced refinery capacity raise U.S. retail gasoline prices in the West The average regular retail gasoline price in the Rocky Mountain region (PADD 4) was $3.64 per…