U.S. will import 62% more crude by 2022 due to domestic production declines, says EIA
WASHINGTON – Throughout much of its history, the United States has imported more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it has exported. That status changed in 2020. The U.S. Energy Information Administration’s (EIA) February 2021 Short-Term Energy Outlook (STEO) estimates that 2020 marked the first year that the United […]
Oil prices wobble on lower U.S. supplies and weaker crude demand
(Bloomberg) –Oil switched between gains and losses after a U.S. government report showed domestic crude inventories fell ahead of a sharp reduction in output due to a cold blast sweeping parts of the country. Futures in New York rebounded after sliding as much as 1.3% on Thursday. U.S. crude stockpiles tumbled more than 7 million […]