Recent developments in global trade policy and oil production are expected to lead to lower Brent crude oil prices during the remainder of 2025 and 2026 than previously forecast, according to the U.S. Energy Information Administration’s May Short-Term Energy Outlook. The agency also forecasts natural gas prices to rise during 2025 and 2026, following historic…...
The U.S. Energy Department on May 8 announced three new policy actions that are expected to save over $935 million yearly for taxpayers, while developing U.S. scientific research and innovation. In three new policy memorandums, the department announced that it will follow best practices utilized by fellow grant providers and reduce indirect costs, sometimes referred…...
The average number of wells completed simultaneously at the same location in the Lower 48 states has more than doubled, increasing from 1.5 wells during December 2014 to more than 3.0 wells during June 2024, according to a May 7 report published by the U.S. Energy Information Administration. The increase in the number of simultaneous…...
The U.S. Interior Department has announced plans to revise the Bureau of Ocean Management’s risk management and financial assurance regulations and develop a new rule that is in line with the Trump administration’s 2020 proposed regulatory guidelines. The amended measure, based on the 2020 proposed rule, would significantly reduce expenditures and red tape associated with…...
U.S. sustainable aviation fuel (SAF) production has increased so far in 2025, in line with new capacity coming online, according to a May 6 report published by the U.S. Energy Information Administration. U.S. production capacity, which was around 2,000 barrels per day (b/d) at the start of last year, rose to about 25,000 b/d in…...
Retail regular grade gasoline prices are consistently higher in California compared to any other state in the continental U.S., according to a May 5 report published by the U.S. Energy Information Administration. Retail gasoline prices often exceed the national average by over $1/ per gallon (gal). The high retail gasoline price in California can be…
The U.S. Energy Department on May 2 announced the withdrawal of the classification of miscellaneous gas products as covered consumer products under the Energy Policy and Conservation Act. The withdrawal will exempt several miscellaneous gas products, a group that includes outdoor heaters and decorative hearths, from an array of redundant rules on their production and…...
PJM Interconnection on May 2 announced the selection of 51 generation projects aimed at quickly strengthening grid reliability as electricity demand rises and older plants retire. The projects, selected under the grid operator’s one-time Reliability Resource Initiative, or RRI, will collectively add over 9,300 megawatts of capacity over the next several years. RRI is a…...
Crude oil prices and refinery margins declined during the first quarter of 2025, according to a May 1 report published by the U.S. Energy Information Administration. Crude oil prices reached a quarterly high on Jan. 15 and were valued at $82/barrel (b) and settled the quarter at $75/b. The price decline can be attributed to…...
Electricity use in New England is set to grow over the next decade, reversing a long-standing trend of declining demand. Annual electricity consumption in the region is projected to rise by 11 percent through 2034, with most of the increase attributed to the growing use of electric vehicles and heating systems, according to a new…...
U.S. imports of petroleum products declined by 210,000 barrels per day (b/d) during 2024 to average 1.8 million b/d, according to an April 29 report published by the U.S. Energy Information Administration. Imports of all main transportation fuels declined. Motor gasoline accounts for the highest share of U.S. petroleum product imports, since it is the…...
The Bureau of Land Management’s Montana-Dakotas State Office leased 11 parcels totaling 4,266.06 acres for just over $3.4 million in its quarterly oil and gas sale, according to an April 29 press release. The auction proceeds will be shared between the federal government and the states of North Dakota and Montana. The BLM conducts oil…...
