Crude oil and other liquids fuel consumption growth are expected to weaken over the next two years, in line with a slowdown in economic growth, most notably in Asia, according to a May 15 report published by the U.S. Energy Information Administration. Oil consumption is still expected to grow, albeit at a slower rate. The…...
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 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…...
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…...
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…...
The U.S. Interior Department on April 24 announced a policy enhancement that will increase offshore oil production in the Gulf of America. As part of the executive order issued by President Trump on Jan. 20 titled, “Unleashing American Energy,” the Bureau of Safety and Environmental Enforcement (BSEE) employed new parameters for Downhole Commingling in the…...