The US Energy Information Administration expects the US – a net exporter of petroleum in 2020 – to return to being a net petroleum importer on an annual basis in both 2021 and 2022.
The US Energy Information Administration expects production of all fossil fuels – crude oil, coal, dry natural gas, and natural gas plant liquids – to increase in 2022, but forecast fossil fuel production will remain lower than the 2019 peak.
For the week ending 13 November US distillate inventories fell to 143 million barrels, according to the US Energy Information Administration.
As of 30 October, US refinery runs were 14 million bpd, or about 13% lower than the average for this time of year, according to the EIA Weekly Petroleum Status Report.
In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration expects 5% more US propane consumption this winter compared with last winter.
In 1H20, the US exported 5.4 million bpd of petroleum products, a slight increase of 48 000 bpd (1%) from 1H19.
Demand for motor gasoline increased in May as many US states began to relax stay-at-home orders, but demand for jet fuel continued to decline because of reduced commercial air travel.
The US EIA has reported that petroleum demand will remain below 2019 levels for several more months.