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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. Background.

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EIA: Crude oil demand returns faster than supply, increasing prices and reducing inventories

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The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 million barrels per day (b/d).

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EIA expects summer US real gasoline and diesel prices to be the highest since 2014

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The US Energy Information Administration (EIA) forecasts that retail gasoline prices will average $3.84 After adjusting for inflation, this summer’s forecast national average price would mark the highest retail gasoline and diesel prices since 2014. Source: US Energy Information Administration, Short-Term Energy Outlook (STEO).

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Aramco and Stellantis collaboration indicates eFuel compatibility with 24 European engine families produced since 2014 (Euro 6)

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Stellantis has concluded that 24 engine families in European vehicles sold since 2014, representing 28 million vehicles on the road, are ready to use advanced drop-in eFuel without any powertrain modification, following months of testing at its technical centers across Europe.

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EIA: US average gasoline prices before Memorial Day highest since 2014

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per gallon (gal), the highest gasoline price before Memorial Day since 2014, according to the US Energy Information Administration’s (EIA’s) weekly Gasoline and Diesel Fuel Update. Gasoline prices in some US markets have been more than $3.00/gal The average US gasoline price on 24 May was $1.14/gal gal higher than a year ago.

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DOE to award up to $88M for oil and natural gas recovery research

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The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). billion barrels.

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