In 2021, the forecast natural gas share declines to 34% in response to a forecast increase in the price of natural gas delivered to electricity generators from an average of $2.44/MMBtu in 2020 to $3.38/MMBtu in 2021 (an increase of 39%). EIA's free and open data available as API, Excel add-in, bulk files, and widgets. Energy use in homes, commercial buildings, manufacturing, and transportation. For a look at all of today’s economic events, check out our economic calendar . In its latest Short-Term Energy Outlook , the EIA projects WTI crude prices to average $45.07 per barrel next year. EIA estimates that the world consumed 95.6 million b/d of petroleum and liquid fuels in November, which is down 6.3 million b/d from November 2019 but up from the third-quarter 2020 average of 93.5 million b/d. Forecast coal production rises to 624 MMst in 2021, a 20% increase from 2020 levels. EIA forecasts that consumption of electricity in the United States will decrease by 3.9% in 2020. Regional Retail Electricity Prices, Table WF01. Forecast natural gas inventories end March 2021 at 1.6 Tcf, 15% lower than the 2016â20 average. Lesson plans, science fair experiments, field trips, teacher guide, and career corner. The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. Oil Price Fundamental Daily Forecast – Light Volume Caps Gains, but Supported by EIA Draw, Brexit Hopes. Greenhouse gas data, voluntary reporting, electric power plant emissions. However, EIA forecasts that declines in U.S. natural gas production this winter compared with last winter will more than offset the declines in natural gas consumption, which will contribute to inventory withdrawals outpacing the five-year average during the remainder of the winter season that ends in March. Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. The increase mostly reflects greater production in the U.S. Federal Gulf of Mexico after hurricane-related disruptions. Although EIA still expects prices to increase in the coming months because of rising space heating demand and rising U.S. liquefied natural gas (LNG) exports amid declining U.S. natural gas production, the lower January price forecast reflects higher forecast storage levels this winter compared with last month's forecast. U.S. State energy information, including overviews, rankings, data, and analyses. Financial market analysis and financial data for major energy companies. Full Report
The U.S. Energy Information Administration (EIA) expects that Brent prices will average $49/b in 2021, up from an expected average of $43/b in the fourth quarter of 2020. "Oil and other financial markets reached all-time high levels of volatility in March," the EIA said. EIA expects that total U.S. consumption of natural gas will average 83.4 billion cubic feet per day (Bcf/d) in 2020, down 2.0% from 2019. Energy-Related Carbon Dioxide Emissions, Energy-Related Carbon Dioxide Emissions at the State Level, 2005-2016, Energy-Related Carbon Dioxide Emissions at the State Level, through 2017, U.S. Oil and Natural Gas Wells by Production Rate, Monthly Crude Oil and Natural Gas Production ›, Midwest and Rocky Mountain Transportation Fuels Markets, East Coast and Gulf Coast Transportation Fuels Markets, Macroeconomics and Carbon Dioxide Emissions, Table 4c. All Figures, Electricity, coal, renewables, and emissions, Provides custom data views of historical and forecast data
In the forecast, monthly average production falls from a record 97.0 Bcf/d in December 2019 to 87.1 Bcf/d in April 2021 before increasing slightly. Milder winter temperatures in early 2020 led to less residential consumption for space heating, but this effect was offset by increased summer cooling demand and increased electricity use by more people staying home in response to the pandemic. U.S. International energy information, including overviews, rankings, data, and analyses. Lesson plans, science fair experiments, field trips, teacher guide, and career corner. At 11:05 GMT, December WTI crude oil is trading $40.23, up $0.14 or +0.35% and December Brent crude oil is at $42.39, up $0.20 or +0.47%. Brent prices increased in November in part because of news about the viability of multiple COVID-19 vaccines, along with market expectations that the Organization of the Petroleum Exporting Countries (OPEC) and partner countries (OPEC+) would delay or limit production increases planned for January 2021. The EIA cut its 2020 West Texas Intermediate crude price forecast to $38.76 a barrel, down 0.6% from the September forecast. In 2020, EIA expects U.S. residential electricity prices to average 13.1 cents per kilowatthour, which is 0.8% higher than the average electricity price in 2019. |
Exploration and reserves, storage, imports and exports, production, prices, sales. Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports. The increase in crude oil prices is expected to raise associated gas production from oil-directed wells in late-2021, especially in the Permian region. Sales, revenue and prices, power plants, fuel use, stocks, generation, trade, demand & emissions. Full Report
Brent and WTI spot prices will average $41.90 per barrel and $38.99 per barrel, respectively, this year, according to the EIA’s September STEO. Reports requested by congress or otherwise deemed important. OPEC+ announced it will increase its production target by 0.5 million b/d in January 2021. Maps by energy source and topic, includes forecast maps. Although EIA still expects prices to increase in the coming months because of rising space heating demand and rising U.S. liquefied natural gas (LNG) exports amid declining U.S. natural gas production, the lower January price forecast reflects higher forecast storage levels this winter compared with last month's forecast. Subscribe to feeds for updates on EIA products including Today in Energy and What's New. The forecast decline in 2021 results from rising natural gas prices that lower forecast natural gas demand in the electric power sector. All Figures, Provides custom data views of historical and forecast data
Distillate stockpiles, which include diesel and heating oil, fell by 3.2 million barrels in the week versus expectations for a 917,000-barrel drop, the EIA data showed. EIA expects production to begin rising in the second quarter of 2021 in response to higher natural gas and crude oil prices. Short, timely articles with graphics on energy, facts, issues, and trends. EIA Cuts Oil Price Forecast. Price: The EIA lowered its 2020 view on WTI crude — the U.S. benchmark — by 23 cents to $38.76 a barrel, and pulled back its price forecast for next year by 35 cents to $44.72 a barrel. Consumption of electricity in the second quarter of 2021 in response to higher gas. Trips, teacher guide, and analyses the price is in us Dollar 1... The products still in development and let us know What you think associated gas production from wells! 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