U.S. oil producers issued record equity in 2016 and increased investment in the final quarter (3/29/2017)

A group of 44 U.S. onshore-focused oil producers issued a record amount of equity in 2016. In the fourth quarter of 2016, capital expenditure for these companies was $4.9 billion (72%) higher than in the fourth quarter of 2015. This increase in investment spending was the first year-over-year increase since the fourth quarter of 2014 and largest annual increase for any quarter since at least the first quarter of 2012. Quarterly financial statements from these producers also show an overall improvement in their financial situation compared with early 2016 and all of 2015. Company announcements and continued increases in the number of active oil rigs suggest U.S. oil production companies are increasing capital expenditure in 2017. ... More »

U.S. crude oil exports went to more destinations in 2016 (3/22/2017)

In 2016, U.S. crude oil exports averaged 520,000 barrels per day (b/d), 55,000 b/d (12 percent) more than in 2015 despite a year-over-year decline in production. However, the rate of U.S. crude oil export growth has slowed significantly from its pace over 2013-15 when annual U.S. crude production grew rapidly. Meanwhile, increased crude oil imports in 2016 have substituted for some domestic crude oil at U.S. refineries, allowing for increased refinery runs despite lower production and higher exports. ... More »

Despite growth late in the year, U.S. crude oil production decreased in 2016 while both imports and exports increased (3/15/2017)

Even with a rising crude oil price throughout most of 2016, total U.S. oil production in 2016 was below its 2015 level. However, monthly production began growing in the fourth quarter of the year after declining over its first three quarters. Total production managed to stay above the five-year average thanks to prior year increases. With the removal of restrictions on exports of domestically-produced crude oil at the end of 2015, crude oil exports increased and the difference between Brent and WTI crude prices narrowed, which made crude imports relatively more attractive. ... More »

Midwest and Rocky Mountain regions are increasingly self-sufficient in production of transportation fuels (3/8/2017)

A new study, commissioned by the U.S. Energy Information Administration (EIA), finds that changes in North American energy markets over the past decade have strengthened the supply of transportation fuels including motor gasoline, distillates, and jet fuel in the Midwest and Rocky Mountain regions. ... More »

Planned refinery outages through first half of the year not expected to constrain availability of transportation fuels (3/1/2017)

The U.S. Energy Information Administration's (EIA's) latest analysis of planned refinery outages during the first half of 2017 finds that such outages are not expected to cause a shortfall in the supply of petroleum products including gasoline, jet fuel, and distillate fuel, relative to expected demand, either nationally or within any U.S. region. This result occurs despite the current high level of U.S. gasoline demand, which in 2016 was as high as or higher than in any past year. ... More »