oil

China’s crude oil imports decreased from a record as refinery activity slowed

Slower oil demand growth in 2024 led to less crude oil processed by China's refineries and fewer crude oil imports…

4 months ago

China’s crude oil imports decreased from a record as refinery activity slowed

Slower oil demand growth in 2024 led to less crude oil processed by China’s refineries and fewer crude oil imports…

4 months ago

Rarely used oil, coal helped power New England during recent cold snap

Below average temperatures in the eastern United States during the week of January 19, 2025, resulted in high demand for…

4 months ago

U.S. retail gasoline prices to decrease in 2025 and 2026 with lower crude oil price

In our January Short-Term Energy Outlook, we now forecast U.S. retail gasoline prices through the end of 2026. We estimate…

4 months ago

EIA forecasts lower oil price in 2025 amid significant market uncertainties

We forecast benchmark Brent crude oil prices will fall from an average of $81 per barrel (b) in 2024 to…

5 months ago

A look back at our forecast for global crude oil prices in 2024

Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year…

5 months ago

Brent crude oil prices traded in a narrow range in 2024

Benchmark Brent crude oil futures prices averaged $80 per barrel (b) in 2024, $2/b less than in 2023. Intraday prices…

5 months ago

Improved efficiency is enabling record U.S. crude oil production from fewer rigs

Crude oil production in the U.S. Lower 48 (L48) states, which excludes Alaska and offshore production, reached a record 11.3…

6 months ago

U.S. Oil and Natural Gas Wells by Production Rate

(Thu, 19 Dec 2024) Our Well Distribution Report presents historical, annual state-level data on well distribution by size and technology…

6 months ago

India to surpass China as the top source of global oil consumption growth in 2024 and 2025

India has emerged as the leading source of growth in global oil consumption in 2024 and 2025, overtaking China this…

6 months ago

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