All publications by tag «U.S.»
U.S. Rig Count is down 27 rigs from last week to 905, with oil rigs down 24 to 679, gas rigs down 3 to 222, and miscellaneous rigs unchanged at 4.
Monthly average crude oil prices increased in February. The average domestic crude oil first purchase price rose $1.29 (3.0 percent), to $44.35 per barrel.
U.S. energy consumption has slowed recently and is not anticipated to return to growth levels seen in the second half of the 20th century. EIA's Reference case projections in the Annual Energy Outlook 2015 (AEO2015) show that domestic consumption is expected to grow at a modest 0.3% per year through 2040, less than half the rate of population growth. Energy used in homes is essentially flat, and transportation consumption will decline slightly, meaning that energy consumption growth will be concentrated in U.S. businesses and industries.
U.S. economic growth braked more sharply than expected in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending, but there are signs activity is picking up.
EIA expects the United States to be a net natural gas exporter by 2017.
U.S. Rig Count is down 22 rigs from last week to 932, with oil rigs down 31 to 703, gas rigs up 8 to 225, and miscellaneous rigs up 1 to 4.
ConocoPhillips, the third-largest U.S. oil producer, is exploring the sale of some its North Sea assets in Norway as it seeks to divest overseas operations, two people with knowledge of the matter said.
Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of forecasters.
While the U.S. rig count keeps falling, weak oil prices won’t stop the United States from becoming a net energy exporter in the coming decades, the Energy Information Administration’s 2015 annual energy outlook said.
North Dakota Democrats are predicting a “nightmare scenario” for future state revenues if the Republican-led Legislature radically restructures oil taxes as a hedge against falling crude prices.