The US Energy Information Administration – DOE’s statistical arm – today released its Short-Term Energy Outlook, which includes commodity price forecasts and anticipated supply/demand fundamentals. Included below are some comments from EIA Administrator Adam Sieminski about the report: Crude Oil “EIA expects strong U.S. crude oil production growth will help reduce WTI prices to an… Keep reading →
US natural gas in storage could reach a symbolic low this week. Extreme cold throughout the country is sending heating demand soaring, which is sucking gas from storage at record levels. “Natural gas in underground storage hasn’t dropped below 1 tcf since 2003, but the latest EIA report showed inventories on February 14th at 1.4 tcf and… Keep reading →
Many Americans lack knowledge on key energy issues, which could be problematic when they vote later this year for congressional representatives who will shape the country’s energy policies. “What is the solution to this ongoing problem of voters not having sufficient energy knowledge? It is information. Women and men need to understand both sides of the… Keep reading →
IEA’s latest Monthly Oil Market Report called for Opec to maintain current production levels of around 30 mmb/d amid developed world demand resurgence that has depleted OECD oil inventories by 1.5 mmb/d in the last three months of 2013, the steepest quarterly decline since 1999. “At this time of year, when the global oil market… Keep reading →
Prices for natural gas are headed lower after a hot summer showed signs of the first boost in pricing for the fuel on which the US energy sector is increasingly relying.
With the approaching end of the cooling season and continued strong supply from domestic gas producers, prices are likely to revert to their earlier trading range between $2 and $3 per million BTU, predicted Michael Lynch, president of Strategic Energy and Economic Research, a Massachusetts consultancy. Keep reading →
