U.S. manufacturing energy consumption has continued to increase, according to our recently released survey results for 2022. We conduct the Manufacturing Energy Consumption Surveys (MECS) every four years, and the latest iteration shows the third consecutive increase in energy consumed in the manufacturing sector since a low point in 2010. Natural gas consumption in the manufacturing sector increased by more than all other energy sources combined, as compared with the previous MECS results from 2018.
U.S. refineries produced a record-high share of jet fuel in 2024, reflecting increased demand relative to other transportation fuels.
U.S. ethane production, consumption, and exports reached record highs in 2024, according to recent data from our Petroleum Supply Monthly. Increasing ethane recovery associated with natural gas production and continued growth in the domestic and global petrochemical sectors drove these increases.
In our March 2025 Short-Term Energy Outlook, we forecast crude oil production in Alaska will increase by 16,000 barrels per day (b/d) in 2026 to 438,000 b/d after remaining relatively flat in 2025. Two new oil developments in Alaska–the Nuna and Pikka projects–are expected to boost crude oil production in the state after decades of decline. If realized, this annual production increase will be the first since 2017 and the largest since 2002.
A February 19–22 cold snap increased electricity demand in Texas, and natural gas-fired electricity generation approached record highs for hourly and daily generation.
Oil prices dipped as traders remained cautious over signs that sanctions on Russia's oil sector may ease.
'Bullish call option holders are attempting to maintain support at the $4.00 strike price ahead of contract options expiration tomorrow', Eli Rubin, an energy analyst at EBW Analytics Group, said.
Stratas Advisors outlined in a report that oil prices 'will get support' from several factors.
'The future of the North Sea is in our hands', OEUK Chief Executive David Whitehouse said.
North America cut 18 rigs week on week, according to Baker Hughes' latest North America rotary rig count.
