After more than a decade of little change, U.S. electricity consumption is rising again
In our latest Short-Term Energy Outlook, we forecast U.S. annual electricity consumption will increase in 2025 and 2026, surpassing the all-time high reached in 2024. This growth contrasts with the trend of relatively flat electricity demand between the mid-2000s and early 2020s. Much of the recent and forecasted growth in electricity consumption is coming from the commercial sector, which includes data centers, and the industrial sector, which includes manufacturing establishments.
U.S. sustainable aviation fuel production takes off as new capacity comes online
Sustainable aviation fuel (SAF) production is growing in the United States as new capacity comes online. U.S. production of Other Biofuels, the category we use to capture SAF in our Petroleum Supply Monthly, approximately doubled from December 2024 to February 2025.
U.S. energy flow and energy consumption by source and sector charts for 2024
(Wed, 30 Apr 2025) Five energy flow diagrams with data for 2024 show U.S. production and consumption of total energy, petroleum, natural gas, coal, and electricity. Five charts with U.S. energy consumption by source and sector show the distribution, by both energy source and sector, of total energy, petroleum products, fossil fuels, renewable energy, and CO2 emissions in 2024.
U.S. oil companies spent less on interest over the last decade despite higher rates
Higher oil prices, increased drilling efficiency, and structurally lower debt needs have contributed to lower interest expenses for some publicly traded U.S. oil companies over the past decade, despite the level of interest rates across the economy being relatively high.
U.S. imports of major transportation fuels decreased in 2024
U.S. imports of petroleum products decreased by 210,000 barrels per day (b/d) in 2024 to average 1.8 million b/d. Imports of all major transportation fuels, such as motor gasoline, diesel, and jet fuel, as well as other products, such as unfinished oils, decreased.
U.S. natural gas inventories in underground storage ended winter at a three-year low
After a relatively warm start to the 2024–25 winter heating season (November–March), colder-than-normal temperatures across much of the United States in January and February resulted in increased consumption of natural gas and more withdrawals from U.S. natural gas storage than normal. By the end of March, the least amount of natural gas was held in U.S. underground storage in the Lower 48 states since 2022, with inventories 4% lower than the previous five-year average for that time of year, according to our Weekly Natural Gas Storage Report.