Category: Contributors

Net crude oil and petroleum imports declined in 2017 to a record low, and the federal government expects net imports to decline even further this year. The Energy Information Administration (EIA) reported this week that total U.S. crude oil and petroleum product net imports will fall from an annual average of 3.7 million barrels per day (b/d) in 2017 to… Read More

Crude oil futures hit a speed bump last week amid rumors that some crude oil producing countries were going to increase their production soon. Prices on the international exchange for Brent crude futures declined from its high of $80 per barrel to $75. In the U.S., futures prices for 30-day delivery on NYMEX declined to $64.75 from $70 a week… Read More

Last week officials from Saudi Arabia and Russia announced they may seek a change in their current policy to limit oil production and exports. This week the Energy Information Administration (EIA) released data stating that the reduction in production has reduced inventories. The new was anticipated because inventories had been declining worldwide and in U.S. since 2017. During the period… Read More

Electric vehicles (EVs) have been a growing market for automakers, but they had slow growth last year, according to a new study released by the Energy Information Administration (EIA). EIA reported “limited growth” of EV sales in 2017, citing relatively low gasoline prices, increased fuel economy of gasoline vehicles, limited charging infrastructure and higher prices for EV compared to gasoline… Read More

Rising gasoline prices have been a big news story this past week increasing to a nationwide average of $2.87 per gallon. The U.S. average diesel fuel price increased to $3.24 per gallon. West Coast tops the nation at $3.73, and Gulf Coast has the lowest at $2.61, according to the Energy Information Administration (EIA). Gasoline, diesel and other distillate fuels… Read More

Crude oil prices in the U.S. broke through the $70 mark on the New York Mercantile Exchange (NYMEX) for the first time this week since 2014. Analysts said increased demand, declining inventories, and tension in some oil producing countries were all contributing factors to the rise in price worldwide. During the latest decline in price, oil slipped to $26 per… Read More