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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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US crude oil production averaged 11.3 million barrels per day (b/d) in 2020, down 935,000 b/d (8%) from the record annual average high of 12.2 The 2020 decrease in production was the largest annual decline in the EIA’s records. The production decline resulted from reduced drilling activity related to low oil prices in 2020.

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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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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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bp released the 70 th annual edition of the bp Statistical Review of World Energy ; the data collected in this year’s edition includes energy data for 2020. in 2020—the largest annual decline since 1945. Carbon emissions from energy use fell by more than 6% in 2020, the largest decline since 1945. million b/d). The US (-2.3

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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 by the end of June 2020.

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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DOE: US net petroleum imports negative for 2020

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In 2020, net petroleum imports (total imports minus exports) were negative for the first time since the US Energy Information Administration began tracking them—i.e., This includes crude oil and petroleum products. the United States exported more petroleum than it imported. Net imports peaked in 2005 at 12.5

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EIA: US fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years

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In 2020, total consumption of fossil fuels in the United States, including petroleum, natural gas, and coal, fell to 72.9 2020 marked the largest annual decrease in US fossil fuel consumption in both absolute and percentage terms since at least 1949, the earliest year in the EIA annual data series.

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