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Brent crude oil prices averaged $19 per barrel less in 2023 than 2022

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The price of Brent crude oil averaged $83 per barrel (b) in 2023, down from $101/b in 2022, a difference of $19/b after rounding. Global markets adjusted to new trade dynamics, with crude oil from Russia finding destinations outside the EU, and global crude oil demand fell short of expectations. Those dynamics offset ...

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Today In Energy Announcement

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We are excited to announce changes to Today in Energy (TIE).

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California leads the United States in electric vehicles and charging locations

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California has led the United States in the number of electric vehicles (EVs) and EV charging locations every year since 2016, accounting for 37% of U.S. registered light-duty EVs and 27% of EV charging locations at the end of the year in 2022, according to new estimates in our State Energy Data System (SEDS).

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Japanese refineries close as the country’s petroleum consumption falls

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In our Short-Term Energy Outlook, we forecast the lowest annual petroleum consumption in Japan in 2024 since at least 1980, in part due to its aging and declining population. Japan's reduced consumption is already affecting its refining industry.

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New pipelines will bring significant volumes of natural gas to new LNG export terminals

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More than 20.0 billion cubic feet per day (Bcf/d) of natural gas pipeline capacity is under construction, partly completed, or approved to deliver natural gas to five U.S. liquefied natural gas (LNG) export terminals that are currently under construction, according to our Natural Gas Pipeline Project Tracker. Some of ...

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New Renewable Fuel Standard volume targets facilitate renewable natural gas production

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On June 21, 2023, the U.S. Environmental Protection Agency (EPA) announced a final rule that established biofuel volume requirements and standards for cellulosic biofuel for 2023�25 as part of the Renewable Fuel Standard (RFS) program. The cellulosic biofuel category primarily applies to Renewable Natural Gas (RNG), ...

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The United States begins the winter with the most natural gas in storage since 2020

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Working natural gas in storage in the Lower 48 United States ended the natural gas injection season at 3,776 billion cubic feet (Bcf), according to estimates based on data from our Weekly Natural Gas Storage Report released on November 16. The Lower 48 states will enter the winter heating season, which runs from ...

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Associated natural gas production has tripled since 2018 in top three Permian oil plays

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Production of associated-dissolved natural gas, or associated natural gas, which is natural gas produced from predominantly oil wells, has nearly tripled since 2018 in the three top-producing tight oil plays in the Permian region. Associated natural gas from the Wolfcamp, Spraberry, and Bone Spring plays averaged a ...

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Countries in the Middle East and North Africa supply about one-third of global LNG

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Exporting countries in the Middle East and North Africa region (MENA) supplied nearly one-third (29%) of global liquefied natural gas (LNG) exports in 2022, according to data from the International Group of Liquefied Natural Gas Importers (GIIGNL). The share of global LNG exports coming from the region's ...

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Red Sea chokepoints are critical for international oil and natural gas flows

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The Suez Canal, the SUMED pipeline, and the Bab el-Mandeb Strait are strategic routes for Persian Gulf oil and natural gas shipments to Europe and North America. Total oil shipments via these routes accounted for about 12% of total seaborne-traded oil in the first half of 2023, and liquefied natural gas (LNG) ...

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Global CO2 emissions rise through 2050 in most IEO2023 cases

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We project that global energy-related CO2 emissions from consumption of coal, liquid fuels, and natural gas will increase over the next 30 years across most of the cases we analyzed in our International Energy Outlook 2023 (IEO2023).

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Coal generation decreased in 2022, but overall U.S. emissions increased

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U.S. coal-related CO2 emissions decreased by 7%, or 68 million metric tons (MMmt), in 2022 relative to 2021. This decrease was largely due to an 8% decline in coal-fired power generation because of retiring coal-fired generating capacity. Changes in electricity generation sources decreased the carbon intensity of ...

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