Tag Archives: lower

Growing global liquids inventories reflect lower crude oil prices

August 24, 2015 Source: U.S. Energy Information Administration, , August 2015 Continued growth in global production of petroleum and other liquids has outpaced consumption growth since August 2014, resulting in rising global liquids stocks. Total global liquids inventories are estimated to have grown by 2.3 million barrels per day (b/d) through the first seven months […]

California’s continued drought, reduced snowpack mean lower hydropower output

April 9, 2015 Source: U.S. Department of Agriculture Updated at 9:20 a.m. to include the most recent drought information from California, released this morning. Earlier this month, California Governor Jerry Brown enacted mandatory water restrictions for the first time in the state’s history. While the executive order doesn’t directly address hydropower generation and instead focuses […]

Oil price decline leads to lower tax revenues in top oil-producing states

March 12, 2015 Source: U.S. Energy Information Administration, based on . The decline in in the last half of 2014 and first month of 2015 has reduced oil and natural gas production tax revenues in some of the largest oil- and natural gas-producing states. Texas, North Dakota, Alaska, and Oklahoma are four of the five […]

Higher RIN prices support continued ethanol blending despite lower gasoline prices

February 23, 2015 Source: U.S. Energy Information Administration, based on Oil Price Information Service, Thomson-ReutersNote: RBOB is reformulated blendstock for oxygenate blending. With the exception of two short periods in late 2013 and the first quarter of 2014, when , spot ethanol prices have consistently been lower than gasoline prices from December 2011 through October […]

Saudi Arabia budget insulated from effects of lower oil prices

February 12, 2015 Source: U.S. Energy Information Administration, based on Bloomberg, International Monetary Fund Saudi Arabia is the largest exporter of crude oil and other petroleum liquids in the world, and their oil exports accounted for 89% of the country’s total revenue in 2014. The recent decline in global oil prices is decreasing the value […]

Lower 48 oil production outlook stable despite expected near-term reduction in rig count

January 26, 2015 Source: U.S. Energy Information Administration, January Short-Term Energy OutlookNote: Graph does not include production from Alaska and the Federal Gulf of Mexico. The sharp decline in oil prices over the last quarter of 2014, which has continued in January, is already having a significant effect on drilling activity in the United States, […]

Despite lower crude oil prices, U.S. crude oil production expected to grow in 2015

December 12, 2014 Source: North Dakota Department of Mineral Resources, Bloomberg The recent decline in crude oil prices has created the potential for weaker crude oil production. EIA’s Drilling Productivity Report (DPR) includes indicators that provide details on the effect low prices may have on tight oil production, which accounts for 56% of total U.S. […]

Oil and currency markets reflect expectations for lower global economic growth

November 20, 2014 Source: U.S. Energy Information Administration, based on Bloomberg Note: The U.S. dollar index measures the value of the U.S. dollar against a basket of six currencies’ exchange rates: the euro, Japanese yen, British pound, Canadian dollar, Swiss franc, and Swedish krona. An increase in the index means the dollar is appreciating against […]

Lower petrochemical use of propane driven by wider price spread between propane and ethane

October 9, 2014 Source: U.S. Energy Information Administration, Short-Term Energy Outlook, October 2014Note: used as a proxy for propane demand. Republished October 9, 9:45 a.m. to correct an error in the graph. Propane demand (, both of which are highly seasonal and weather dependent, petrochemical consumption of propane has relatively little seasonality. Beginning in mid-2013, […]

Lower demand, higher supply drive oil prices to lowest level since 2012

October 8, 2014 Source: U.S. Energy Information Administration, Bloomberg The price of North Sea Brent crude oil has fallen to around $ 91 per barrel, the lowest level in more than two years and about 21% lower than its year-to-date peak of $ 115 per barrel on June 19. Before its recent decline, average monthly […]

U.S. coal exports fall on lower European demand, increased global supply

October 3, 2014 Source: U.S. Energy Information Administration, based on U.S. Census Bureau data Republished October 3, 2014, 12:35 p.m., to clarify graph units. U.S. coal exports have continued to decline from their record volumes in 2012. During the first half of 2014, coal exports totaled 52.3 million short tons (MMst), 16% below the same […]

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