2019-09-23 14:00:00
U.S. PETROLEUM DEMAND 21.5 MBD
U.S. API - September 19, 2019 – The American Petroleum Institute (API) today released its Q3 2019 Industry Outlook and August 2019 Monthly Statistical Report, highlighting how America's domestic energy revolution is empowering economic and environmental progress. The increasing use of clean natural gas for electric power generation has helped drive U.S. carbon emissions to their lowest levels in a generation and lower consumer energy expenditures.
"With natural gas we have proven that economic growth and the reduction of carbon emissions are not mutually exclusive," said API Chief Economist Dean Foreman. "The fact that the U.S. has led the world in the reduction of carbon emissions for nearly two decades wouldn't have been possible had it not been for the abundant supply of affordable and clean natural gas made possible by the shale revolution."
"What makes this success story even more promising is the fact that it isn't bound by borders. In 2019 alone, LNG exports have enabled the delivery of U.S. natural gas to 35 different countries that are working to transition to this cleaner source of energy."
Highlights from the API Q3 2019 Industry Outlook include:
- Record U.S. LNG exports have made global CO2 emissions lower than they otherwise would have been;
- Refinery expansions have enabled the U.S. to become a global supplier of finished products;
- States adding more natural gas generation have generally seen lower carbon emissions and electricity prices; and
- U.S. refiners are well-positioned for IMO 2020.
Highlights from the August 2019 Monthly Statistical Report include:
- Total U.S. petroleum demand of 21.5 mb/d was highest for any month since August 2005;
- Improved infrastructure helped increase supply and lower prices;
- Highest U.S. petroleum exports (8.1 mb/d) for the month of August; and
- Total inventories increased year-on-year for the ninth consecutive month.
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Earlier:
2019, September, 19, 14:15:00
U.S. WEAPON: OIL
Iranian Minister of Petroleum Bijan Zangeneh stressed the non-political nature of oil, saying the US was using oil as a weapon which was not the right approach.
2019, September, 19, 14:10:00
80%: U.S. FOSSIL FUELS ENERGY
The share of U.S. total energy consumption that originated from fossil fuels has fallen from its peak of 94% in 1966 to 80% in 2018. The total amount of fossil fuels consumed in the United States has also fallen from its peak of 86 quads in 2007. Since then, coal consumption decreased by 10 quads and petroleum by 2 quads, more than offsetting a 7 quad increase in natural gas consumption.
2019, September, 18, 17:55:00
U.S. GAS, WIND WILL UP
U.S. Energy Information Administration (EIA) forecasts that natural gas-fired electricity generation in the United States will increase by 6% in 2019 and by 2% in 2020. EIA also forecasts that generation from wind power will increase by 6% in 2019 and by 14% in 2020.
2019, September, 17, 12:55:00
2020: WORLD OIL DEMAND WILL UP BY 1.08 MBD
World oil demand in 2019 is expected to grow by 1.02 mb/d, which is 0.08 mb/d lower than last month’s projection. The drop can be attributed to weaker-than-expected data in 1H19 from various global demand centres and slower economic growth projections for the remainder of the year. Both OECD and non-OECD demand growth forecasts were revised lower, by 0.03 mb/d and 0.05 mb/d, respectively. In 2020, world oil demand is projected to increase by 1.08 mb/d.
2019, September, 17, 12:50:00
U.S. PRODUCTION: OIL + 74 TBD, GAS + 469 MCFD
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 74,000 b/d month-over-month in September from 8,769 to 8,843 thousand barrels/day, gas production to increase 469 million cubic feet/day from 81,893 to 82,362 million cubic feet/day .
2019, September, 16, 14:40:00
U.S. GAS PRODUCTION UP TO 92.8 BCFD
U.S. natural gas production continued to increase in August, setting a new daily production record of 92.8 billion cubic feet per day (Bcf/d) on August 19, 2019,
