US Energy Information Administration news

Less refinery activity in China resulted from mobility restrictions related to COVID-19, and low petroleum product export quotas.

According to the EIA, the Brent price rose significantly in 1H22 but generally declined in the second half of the year.

The EIA forecasts that US industrial natural gas consumption will increase by 3% in 2022, after increasing by 2% in 2021.

Norway is among the top 10 natural gas producing nations in the world and has always been an important source of natural gas to the EU.

In 2Q22, China processed the least amount of crude oil since 1Q20, which is when the COVID-19 pandemic had the strongest effect on the country’s economic activity.

In 1H22, US exports of petroleum products averaged nearly 6 million bpd – the highest first-half-of-year exports in the EIA's Petroleum Supply Monthly data since 1981.

Although total natural gas storage inventories in California, US, are 4% higher than they were one year ago, storage operation and capacity utilisation vary significantly by region.

According to the LNG Industry GIIGNL Annual Report 2022 by the GIIGNL, global trade in LNG in 2021 increased by 2.2 billion ft3/d, or 4.5%, compared with 2020.

Operable atmospheric crude oil distillation capacity, the primary measure of refinery capacity in the US, totalled 17.9 million bbl/d as of 1 January 2022, down 1% from the beginning of 2021.

The EIA forecasts that US refinery utilisation will reach as high as 95% on a monthly average basis this summer in response to high product prices and crack spreads for gasoline, distillate fuel oil, and jet fuel.