China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products.
Since the US began exporting more natural gas than it imports on an annual basis in 2017, natural gas exports both by pipeline and as LNG have grown significantly.
Consumption of ethane has grown every year since 2010 in the US, and more ethane is now consumed in the country than either jet fuel or propane.
The US Department of Energy has released 30 million bbl of crude oil from the US Strategic Petroleum Reserve to ensure an adequate supply of petroleum in response to Russia’s further invasion of Ukraine.
In 2020 and 2021, more than 2000 miles of new liquids pipelines were brought into service. This expansion has allowed natural gas processing plants to process more natural gas and to ship the extracted Y-grade mix to fractionation plants, at low cost.
In its February 2022 Short-Term Energy Outlook, the EIA introduced new forecasts for biodiesel, renewable diesel and other biofuels.
Imports of natural gas by both pipeline and as LNG provided more than 80% of the supply of natural gas to the EU and the UK in 2020, up from 65% a decade earlier.
In November 2021, there was more consumption of residual fuel oil (RFO) in the US, measured as product supplied, than for any month since January 2017.
A mild start to this winter’s heating season has caused US propane prices to decline from the highest starting prices since 2014.