U.S. gasoline and diesel prices declined slightly the week after their March 14 peak

Source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update On March 21, the U.S. regular retail gasoline price across all formulations (conventional and reformulated) averaged $4.24 per gallon (gal), and the…

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U.S. to release 30 million barrels of crude oil from its Strategic Petroleum Reserve

Source: U.S. Energy Information Administration, Weekly Petroleum Status Report On March 1, the U.S. Department of Energy committed to releasing 30 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR) to…

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EIA expects U.S. petroleum trade to shift toward net imports during 2022

Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), February 2022 In 2021, the United States returned to importing more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it…

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Read more about the article Crude oil prices increased in 2021 as global crude oil demand outpaced supply
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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…

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Read more about the article Capital expenditure by U.S. oil companies remains low despite higher crude oil prices
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Capital expenditure by U.S. oil companies remains low despite higher crude oil prices

Financial results for 47 U.S. exploration and production (E&P) companies show limited growth in capital expenditure during the third quarter of 2021 (3Q21), despite more cash from operations. Oil prices…

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EIA projects global conventional vehicle fleet will peak in 2038

Source: U.S. Energy Information Administration, International Energy Outlook 2021 Reference case In our International Energy Outlook 2021, we estimate the global light-duty vehicle (LDV) fleet contained 1.31 billion vehicles in 2020, and we project…

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Drilling and completion improvements support Permian Basin hydrocarbon production

Source: Created by the U.S. Energy Information Administration, based on data from Enverus The Permian Basin, which spans western Texas and eastern New Mexico, represents the most prolific hydrocarbon production region…

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