U.S. hydropower generation expected to rise by 7% in 2025 following last year’s record low
We expect U.S. hydropower generation will increase by 7.5% in 2025 but will remain 2.4% below the 10-year average in our May Short-Term Energy Outlook (STEO). Hydropower generation in 2024 fell to 241 billion kilowatthours (BkWh), the lowest since at least 2010; in 2025, we expect generation will be 259.1 BkWh. This amount of generation would represent 6% of the electricity generation in the country.
Distillate and jet fuel contribute to record U.S. petroleum product exports in 2024
In 2024, U.S. exports of total petroleum products increased to a record 6.6 million barrels per day (b/d) annual average. Annual U.S. petroleum product exports increased by 495,000 b/d as U.S. exports of distillate fuel oil, typically sold as diesel, and jet fuel increased compared with 2023, while exports of total motor gasoline decreased. Imports of major petroleum products, including gasoline, distillate fuel oil, and jet fuel, decreased by 210,000 b/d in 2024 compared with 2023.
U.S. crude oil exports reached a new record in 2024
U.S. crude oil exports in 2024 surpassed the previous record set in 2023, exceeding an annual average of 4.1 million barrels per day (b/d). Despite this new record, crude oil export year—over—year growth slowed to 1% in 2024, compared with 14% in 2023 and 21% in 2022.
U.S. propane consumption reached an 18-year record in January amid cold snap
U.S. propane consumption reached 1.48 million barrels per day (b/d) in January 2025, the most January consumption on record since January 2005 and the most for any month since February 2007, as severe cold drove up heating demand across much of the country.
Jet fuel made up a record share of U.S. refinery output in 2024
U.S. refineries produced a record-high share of jet fuel in 2024, reflecting increased demand relative to other transportation fuels.
Natural gas–fired electricity generation during Texas cold snap just shy of record high
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.
Natural gas-fired electricity generation during Texas cold snap just shy of record high
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.
U.S. butane exports reached a new record in 2024
The United States is exporting record volumes of normal butane as global demand for liquefied petroleum gases (LPG) surges. U.S. normal butane exports averaged nearly 500,000 barrels per day (b/d) in 2024, a 12% increase from the previous year, and have increased every year since 2006.