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United States produces more crude oil than any country, ever
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United States produces more crude oil than any country, ever

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The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of ...

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Crude oil processing in China hit a record high in 2023
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Crude oil processing in China hit a record high in 2023

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Crude oil processing, or refinery runs, in China averaged 14.8 million barrels per day (b/d) in 2023, an all-time high. The record processing came as the economy and refinery capacity grew in China following the country's COVID-19 pandemic responses in 2022.

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Henry Hub daily natural gas spot price fell to record lows in February
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Henry Hub daily natural gas spot price fell to record lows in February

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The U.S. benchmark Henry Hub daily natural gas price averaged $1.50 per million British thermal units (MMBtu) on February 20, 2024, the lowest price in inflation-adjusted dollars since at least 1997, according to data from Refinitiv Eikon. High natural gas production, low natural gas consumption, and higher natural ...

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More productive wells spur U.S. crude oil production higher
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More productive wells spur U.S. crude oil production higher

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U.S. crude oil production averaged 13.3 million barrels per day (b/d) in December 2023, following sustained productivity increases at new wells, according to our latest Petroleum Supply Monthly (PSM). U.S. crude oil production has increased to record highs since 2010 and has risen even more quickly in recent months. ...

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Wholesale U.S. electricity prices were relatively low in 2023
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Wholesale U.S. electricity prices were relatively low in 2023

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After a volatile 2022, average wholesale electricity prices at most major trading hubs in the Lower 48 states generally declined and traded within more narrow price ranges in 2023, according to data from S&P Global Market Intelligence. Prices decreased primarily because of lower natural gas prices, mild ...

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U.S. energy flows through Panama Canal rose slightly in January
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U.S. energy flows through Panama Canal rose slightly in January

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U.S. liquefied petroleum gas (LPG) and ethane exports through the Panama Canal rose in January 2024 with a return to vessel traffic through the shipping channel as drought conditions eased. Transit volumes of LPG and ethane had fallen in late 2023 amid a historic drought at the Panama Canal.

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Retirements of U.S. electric generating capacity to slow in 2024
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Retirements of U.S. electric generating capacity to slow in 2024

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Operators plan to retire 5.2 gigawatts (GW) of U.S. electric generating capacity in 2024, a 62% decrease from last year when 13.5 GW was retired and the least in any year since 2008, according to our latest Preliminary Monthly Electric Generator Inventory. Coal and natural gas jointly account for 91% of the planned ...

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