Petroleum & Other Liquids

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With low oil prices in 2016, federal revenues from energy on federal lands again declined

liquid fuels oil/petroleum production/supply

Hydrocarbon gas liquids becoming a key factor in overall liquid fuel balance changes

HGL consumption/demand ethane natural gas

U.S. ethane production, consumption, and exports expected to increase through 2018

HGL NGL consumption/demand ethane exports/imports liquid fuels production/supply

EIA now using near-real-time export data to provide better weekly petroleum consumption statistics

consumption/demand exports/imports oil/petroleum

Crude oil prices increased in 2016, still below 2015 averages

OPEC crude oil international liquid fuels prices

Energy commodity prices rose more than other commodity sectors in 2016

diesel gasoline liquid fuels natural gas oil/petroleum prices

Strategic Petroleum Reserve sales under recently enacted laws are expected to start in January 2017

SPR crude oil

U.S. oil and natural gas proved reserves declined in 2015 because of lower prices

liquid fuels natural gas reserves states

Quarterly upstream earnings positive for the first time since 2014

financial markets futures oil/petroleum prices production/supply

Recent OPEC agreement reflected in EIA forecast issued earlier this week

Brent OPEC STEO WTI forecasts/projections oil/petroleum prices

EIA adds population density layers to U.S. Energy Mapping System

electricity natural gas oil/petroleum

OPEC production cuts reflected in EIA forecast; HGL production grows through 2017

Brent OPEC STEO WTI oil/petroleum prices

U.S. gasoline inventories, consumption, production, and exports all increased over the past year

exports/imports gasoline inventories/stocks prices

Tighter marine fuel sulfur limits will spark changes by both refiners and vessel operators

crude oil distillate fuel residual fuel oil transportation

U.S. average gasoline prices this Thanksgiving are the second-lowest in eight years

gasoline liquid fuels prices

Residential heating oil and propane prices at levels similar to last winter’s low prices

HGL heating oil prices propane residential states weather

Planned refinery outages through year-end not expected to constrain availability of transportation fuels

diesel gasoline oil/petroleum refining

U.S. oil drilling increasingly focused in Permian Basin

STEO drilling financial markets liquid fuels oil/petroleum

EIA forecasts $51 per barrel 2017 Brent crude oil price

STEO crude oil oil/petroleum prices

Declining investment in Norway affects exploration drilling more than production drilling

Norway drilling liquid fuels oil/petroleum production/supply

Colonial Pipeline restarts Line 1, resumes gasoline shipments to U.S. Southeast

disruption gasoline liquid fuels pipelines prices

U.S. crude oil production in 2015 was the highest since 1972

Alaska California Gulf of Mexico North Dakota Texas crude oil liquid fuels oil/petroleum production/supply states

Oil wells drilled horizontally are among the highest-producing wells

drilling liquid fuels oil/petroleum

Major gasoline pipeline in Southeast disrupted for second time in two months

distribution gasoline liquid fuels oil/petroleum pipelines transportation

Stable oil prices, improving credit conditions contributing to rise in merger and acquisition activity

STEO Texas crude oil financial markets oil/petroleum prices production/supply rig count

U.S. summer gasoline consumption sets new high

consumption/demand exports/imports gasoline liquid fuels

U.S. energy production, consumption has changed significantly since 1908

coal crude oil exports/imports liquid fuels production/supply renewables

Offshore oil production in deepwater and ultra deepwater is increasing

Brazil Norway liquid fuels offshore oil/petroleum production/supply

Low tanker rates are enabling long-distance crude oil and petroleum product trade

crude oil inventories/stocks petroleum products transportation

Offshore production nearly 30% of global crude oil output in 2015

Brazil Mexico Norway Saudi Arabia crude oil liquid fuels offshore oil/petroleum production/supply

Short positions in U.S. crude oil futures held by producers, merchants at nine-year high

STEO crude oil financial markets production/supply

U.S. crude oil imports increase during first half of 2016, the first increase since 2010

crude oil exports/imports liquid fuels oil/petroleum

Low oil prices have affected Russian petroleum companies and government revenues

Russia international liquid fuels natural gas oil/petroleum

Heating oil expenditures expected to increase 38% this winter, but remain below normal

Northeast STEO crude oil distillate fuel heating oil prices

Winter heating bills likely to increase, but still remain below recent winters

HGL STEO electricity exports/imports forecasts/projections heating oil natural gas prices propane weather

On Thursday, EIA's weekly crude oil inventory will be presented without lease stocks

crude oil inventories/stocks liquid fuels

U.S. crude oil imports rise during first-half 2016, first increase since 2010

Canada Iraq Nigeria OPEC crude oil exports/imports non-OPEC

Growth in propane exports drove U.S. petroleum product export growth in first half of 2016

Canada HGL Mexico distillate fuel exports/imports gasoline liquid fuels oil/petroleum propane

Pipeline disruption leads to record gasoline stock changes in Southeast, Gulf Coast

disruption gasoline inventories/stocks liquid fuels oil/petroleum pipelines

Weekly Energy Snapshots provides a weekly recap of EIA data visualizations

inventories/stocks prices spot prices storage weather

Hydrocarbon production in the Utica play increasingly targets natural gas-rich areas

Utica liquid fuels natural gas oil/petroleum production/supply

First shipment of ethane from U.S. Gulf Coast arrives in Europe

Gulf Coast NGL ethane exports/imports natural gas

Pipeline shutdown disrupts gasoline supply in the Southeast

disruption gasoline liquid fuels oil/petroleum pipelines transportation

The United States is both a major importer and exporter of motor gasoline

exports/imports generation

EIA's weekly crude oil inventory data will soon be presented without lease stocks

crude oil inventories/stocks oil/petroleum

EIA now provides estimates of drilled but uncompleted wells in major production regions

Oklahoma drilling liquid fuels natural gas

Narrowing crude oil price differences contribute to global convergence of refining profits

crack spread financial markets international liquid fuels oil/petroleum refining

Gasoline prices prior to Labor Day lowest in 12 years

crude oil gasoline liquid fuels prices

EIA now using near-real-time export data to improve weekly petroleum consumption data

exports/imports liquid fuels oil/petroleum

OPEC members' net oil export revenue in 2015 drops to lowest level since 2004

OPEC exports/imports liquid fuels oil/petroleum

Changing crude oil price differentials contribute to global convergence of refining profits

crack spread financial markets international oil/petroleum refining

Future U.S. tight oil and shale gas production depends on resources, technology, markets

AEO AEO2016 drilling natural gas production/supply shale tight oil

Crude oil disruptions in Nigeria increase as a result of militant attacks

CAB Nigeria crude oil disruption liquid fuels

OPEC net oil export revenue in 2015 drops to lowest level since 2004

OPEC crude oil exports/imports oil/petroleum

U.S. crude oil exports are increasing and reaching more destinations

Canada crude oil exports/imports international

World tight oil production to more than double from 2015 to 2040

AEO AEO2016 Australia Canada Colombia IEO Mexico Russia United States international production/supply tight oil

U.S. crude oil exports reach more destinations and continue to increase

Brent Canada Europe WTI crude oil exports/imports

U.S. ethanol plant capacity increases for third consecutive year

ethanol production/supply

Oil and natural gas production jobs in May were 26% lower than in October 2014

crude oil liquid fuels natural gas production/supply rig count

Declining economic activity and oil revenues in Russia are adversely affecting its regional neighbors

Europe Russia crude oil financial markets

Crude-by-rail volumes to the East Coast are declining

crude oil exports/imports liquid fuels rail

New EIA website spotlights key drivers of petroleum product prices

STEO crack spread crude oil futures gasoline liquid fuels production/supply refining

Stripper wells accounted for 11% of U.S. natural gas production in 2015

liquid fuels natural gas oil/petroleum production/supply

Increased gasoline production and high inventories combine to reduce global refinery gasoline margins

diesel gasoline liquid fuels oil/petroleum production/supply

Increased drilling may slow pace of Lower 48 states crude oil production declines

STEO drilling liquid fuels oil/petroleum production/supply rig count

Changing U.S. energy mix reflects growing use of natural gas, petroleum, and renewables

coal exports/imports liquid fuels natural gas nuclear oil/petroleum renewables

Increased drilling may slow pace of Lower 48 states crude oil production declines

STEO drilling rig count

India continues developing its strategic petroleum reserve as its oil imports grow

India crude oil exports/imports liquid fuels oil/petroleum storage

U.S. oil companies closer to balancing capital investment with operating cash flow

crude oil drilling financial markets liquid fuels production/supply

2016 EIA Energy Conference

HGL diesel distillate fuel gasoline propane

Retail price of regular gasoline forecast to average $2.25 per gallon this summer

STEO forecasts/projections gasoline liquid fuels oil/petroleum prices

EIA projects rise in U.S. crude oil and other liquid fuels production beyond 2017

AEO AEO2016 NGL United States biofuels crude oil forecasts/projections liquid fuels oil/petroleum prices production/supply

Crude-by-rail volumes to the East Coast drop as imports

PADD 1 PADD 2 crude oil exports/imports

Fossil fuels still dominate U.S. energy consumption despite recent market share decline

biomass coal exports/imports hydroelectric liquid fuels natural gas nuclear oil/petroleum renewables

U.S. refinery capacity rises 1.9%

crude oil oil/petroleum refinery capacity refining

Stripper wells accounted for 10% of U.S. oil production in 2015

liquid fuels oil/petroleum production/supply

Proposed standards for medium- and heavy-duty vehicles would reduce diesel consumption

AEO AEO2016 diesel gasoline transportation

Panama Canal expansion unlikely to significantly change crude oil, petroleum product flows

HGL crude oil liquid fuels propane transportation

Modest changes to crude oil and petroleum product flows expected from expanded Panama Canal

Gulf Coast HGL crude oil diesel distillate fuel exports/imports gasoline liquid fuels oil/petroleum

U.S. crude oil storage capacity utilization rises even as storage capacity grows

Cushing capacity crude oil liquid fuels storage

Higher U.S. gasoline production and inventories are reducing gasoline crack spreads

crack spread distillate fuel financial markets futures gasoline inventories/stocks production/supply refining

Unplanned global oil supply disruptions reach highest level since at least 2011

crude oil disruption international liquid fuels production/supply weather

Storage capacity utilization rises, as growth in stored volumes outpaces expansion of storage capacity

Cushing WTI crude oil inventories/stocks oil/petroleum storage

Fires near Fort McMurray are reducing Canada's oil sands production

Canada disruption international liquid fuels natural gas oil sands oil/petroleum production/supply

Recent data show divergent trends for rail shipments of crude oil, ethanol, and biodiesel

biofuels crude oil ethanol liquid fuels rail

Recent drilling activity has lowered costs and increased performance

Bakken Eagle Ford Marcellus drilling natural gas oil/petroleum production/supply shale

China's diesel exports grow, driven by changes in its economy and refining industry

China diesel exports/imports international liquid fuels oil/petroleum prices refining

U.S. retail gasoline prices lowest since 2009 ahead of Memorial Day weekend

Brent STEO forecasts/projections gasoline prices

Oil companies focus on production over exploration as low oil prices reduce value of new reserves

crude oil financial markets international oil/petroleum prices production/supply reserves resources

United States remains largest producer of petroleum and natural gas hydrocarbons

Russia Saudi Arabia United States crude oil natural gas production/supply

China’s diesel exports put downward pressure on Asia-Pacific crack spreads

China diesel exports/imports international oil/petroleum prices refining

EIA's global crude supply outlook considers planned and unplanned production outages

Canada Iran OPEC STEO Syria Venezuela crude oil oil/petroleum prices

Crude oil volatility decreases as prices rise from early 2016 levels

crude oil financial markets liquid fuels prices

Recent U.S. imports of oil tend to be heavier than domestic production

crude oil exports/imports liquid fuels refining

Variation across gasoline consumption estimates — a guide for the perplexed

consumption/demand exports/imports gasoline

Almost all U.S. gasoline is blended with 10% ethanol

ethanol exports/imports gasoline liquid fuels

Declining energy prices lower the cost of living

crude oil liquid fuels natural gas prices residential

EIA produces new maps of the Utica Shale play

Ohio Pennsylvania Utah Utica West Virginia liquid fuels natural gas oil/petroleum production/supply states

Crude oil prices rise and contango narrows, but high inventories should constrain further price increases

STEO WTI crude oil futures inventories/stocks prices

Strong El Niño helps reduce U.S. winter heating demand and fuel prices

HGL heating oil prices propane

2015 financials reveal significant differences across U.S. onshore-only producers

financial markets liquid fuels oil/petroleum prices production/supply reserves

Expected decrease in Lower 48 oil production is partially offset by rising GOM output

diesel gasoline liquid fuels oil/petroleum prices states taxes transportation

State taxes on gasoline and diesel average 27 cents per gallon

diesel gasoline liquid fuels oil/petroleum prices states taxes transportation

Total U.S. energy production increases for sixth consecutive year

NGL coal crude oil exports/imports natural gas petroleum products production/supply

Logistical challenges result in ship-to-ship transfers of U.S. propane exports

HGL exports/imports propane

Retail gasoline prices this summer expected to be lowest since 2004

gasoline liquid fuels prices

Canada provides record-high share and amount of U.S. crude oil imports in 2015

Canada United States crude oil exports/imports liquid fuels

EIA tracks monthly ethanol and biodiesel rail movements

ethanol liquid fuels oil/petroleum rail

Engine design trends lead to increased demand for higher-octane gasoline

CAFE gasoline standards transmission vehicles

EIA report shows decline in cost of U.S. oil and gas wells since 2012

drilling liquid fuels natural gas oil/petroleum

U.S. production of hydrocarbon gas liquids expected to increase through 2017

HGL STEO exports/imports production/supply

United Kingdom increases oil production in 2015, but new field development declines

United Kingdom liquid fuels oil/petroleum production/supply

U.S. petroleum product exports continue to increase

HGL distillate fuel exports/imports gasoline liquid fuels oil/petroleum propane

First-half 2016 refinery outage report released

diesel distillate fuel gasoline outages refining

Wells drilled since start of 2014 provided nearly half of Lower 48 oil production in 2015

Bakken Eagle Ford crude oil drilling liquid fuels production/supply shale tight oil

U.S. petroleum product exports continue to expand

HGL distillate fuel exports/imports gasoline international propane refining

Short-Term Outlook for Hydrocarbon Gas Liquids

HGL STEO ethane forecasts/projections propane

Hydraulic fracturing accounts for about half of current U.S. crude oil production

crude oil drilling production/supply

Crude oil shipments by rail from Midwest to coastal regions decline

Bakken Brent Gulf Coast WTI crude oil oil/petroleum pipelines rail transportation vehicles

EIA lowers its crude oil price forecast

Brent STEO WTI crude oil oil/petroleum prices

U.S. oil production continues to decline, and is now below its year-ago level

crude oil liquid fuels production/supply

Rail still moves crude from the Midwest to coastal regions, but in smaller volumes

Brent WTI crude oil

California wholesale gasoline price falls before switch to summer-grade gasoline

California gasoline liquid fuels states wholesale prices

Iraq is second-leading contributor to global liquids supply growth in 2015

Iraq OPEC exports/imports international oil/petroleum production/supply

European distillate oversupply means some shippers take the long route around Africa

Europe distillate fuel international liquid fuels oil/petroleum prices

Canadian oil production expected to increase despite lower prices

Canada liquid fuels oil sands oil/petroleum production/supply

U.S. crude oil inventories continue to increase

Brent Cushing WTI crude oil futures international oil/petroleum prices storage

Motor gasoline consumption expected to remain below 2007 peak despite increase in travel

exports/imports gasoline transportation

Pipelines, tankers, and barges convey transportation fuels from Gulf Coast to East Coast

gasoline liquid fuels transportation

For transportation fuels, the Gulf Coast produces, the East Coast consumes

Gulf Coast distillate fuel exports/imports gasoline liquid fuels oil/petroleum production/supply refining transportation

European distillate oversupply results in floating storage and shipping changes

Europe diesel distillate fuel futures prices storage

Oil production in federal Gulf of Mexico projected to reach record high in 2017

Gulf of Mexico crude oil liquid fuels production/supply

Diesel fuel retail price falls below $2.00 per gallon for first time since 2005

diesel liquid fuels oil/petroleum prices

New EIA data revise Oklahoma’s oil production up by 100,000 barrels per day

Oklahoma crude oil liquid fuels oil/petroleum production/supply states

Initial production rates in tight oil formations continue to rise

drilling liquid fuels oil/petroleum

U.S. regular retail gasoline to average below $2 per gallon in 2016; lowest since 2004

Brent STEO WTI crude oil diesel gasoline oil/petroleum

U.S. mining and exploration investment declined 35% in 2015

crude oil mining prices

High inventories help push crude oil prices to lowest levels in 13 years

crude oil diesel gasoline heating oil liquid fuels

Transportation Fuels Markets, PADD 1 and PADD 3

PADD 1 PADD 3 consumption/demand diesel distribution exports/imports gasoline jet fuel liquid fuels most popular production/supply residual fuel oil storage transportation

East Coast, Gulf Coast trade transportation fuels to balance needs, supply

Connecticut Florida Georgia Gulf Coast Massachusetts Mississippi New England New Jersey New York Texas West Virginia distillate fuel gasoline oil/petroleum refinery capacity states transportation

Changing contract expiration dates will affect crude oil futures comparisons

Brent WTI futures liquid fuels oil/petroleum prices

Upcoming winter storm may cause problems for East Coast energy infrastructure

disruption weather

Hydrogen for refineries is increasingly provided by industrial suppliers

diesel natural gas refining

Iran's petroleum production expected to increase as sanctions are lifted

Iran crude oil oil/petroleum production/supply

Warmer weather, lower energy prices are reducing home heating expenditures

HGL STEO electricity heating oil natural gas prices propane weather

Crude oil prices will remain relatively low through 2016 and 2017

Brent STEO WTI oil/petroleum prices

Crude oil prices to remain relatively low through 2016 and 2017

Iran OPEC STEO WTI crude oil liquid fuels oil/petroleum

State severance tax revenues decline as fossil fuel prices drop

Alaska Oklahoma Texas West Virginia Wyoming coal natural gas oil/petroleum states

U.S. gasoline prices in 2015 were lowest since 2009

crude oil gasoline liquid fuels prices states

California begins 2016 with supply disruptions and higher prices

California PADD 5 gasoline prices refineries wholesale prices

Crude oil prices started 2015 relatively low, ended the year lower

Brent OPEC WTI crude oil liquid fuels oil/petroleum prices

Prices for oil and natural gas commodities fell during 2015

diesel gasoline liquid fuels natural gas oil/petroleum prices

Heating oil and propane prices are lower this winter

HGL NGL exports/imports heating oil liquid fuels prices propane states weather

Debt service uses a rising share of U.S. onshore oil producers’ operating cash flow

financial markets liquid fuels oil/petroleum prices production/supply

U.S. onshore producers face challenging times

United States crude oil financial markets oil/petroleum prices production/supply

Beyond Shell-BG, oil company merger activity is down

financial markets liquid fuels oil/petroleum

Refiner margins unable to fully offset low upstream earnings for integrated oil companies

crack spread crude oil distillate fuel financial markets gasoline liquid fuels refining

Natural gas, renewables projected to provide larger shares of electricity generation

coal electricity exports/imports liquid fuels natural gas nuclear oil/petroleum renewables

Alaska residents are paid a unique yearly dividend from state’s permanent fund

Alaska liquid fuels natural gas oil/petroleum states

Energy resource permanent funds vary by purpose and state

Alaska Louisiana North Dakota Wyoming coal crude oil natural gas states taxes

Assessing 2014 oil and gas company financials

financial markets oil/petroleum prices

Year in Review: Crude Oil Prices 2014

crude oil financial markets oil/petroleum prices

Price declines can affect companies’ proved reserves

financial markets oil/petroleum prices reserves

Total energy subsidies decline since 2010, with changes in support across fuel types

biofuels coal electricity liquid fuels natural gas nuclear oil/petroleum solar wind

Recent Data

Wholesale spot petroleum prices, 1/23/2017 close
Product	Area	Price	% change*
Crude Oil ($/barrel)	WTI	52.77	+0.8
	Brent	54.80	-0.4
	Louisiana Light	54.45	+0.5
Gasoline (RBOB) ($/gallon)	NY Harbor	1.55	+0.2
	Gulf Coast	1.53	+0.9
	Los Angeles	1.52	+0.4
Heating Oil ($/gallon)	NY Harbor	1.53	-0.8
	Gulf Coast	1.50	+0.4
3:2:1 Crack Spread ($/barrel)	Gulf Coast (LLS)	10.52	+1.9
Low-Sulfur Diesel ($/gallon)	NY Harbor	1.60	-1.0
	Gulf Coast	1.58	+0.3
	Los Angeles	1.63	-0.9
Propane ($/gallon)	Mont Belvieu, TX	0.77	+1.2
Source: Daily Prices