Aenert news. Energy Market & Energy Statistics
Statistics on the production of major energy products in the United States, recently published by U.S. Energy Information Administration, indicate a continuation of the positive dynamics that developed in previous periods.
Thus, crude oil production in the second quarter of this year reached 12,710 thousand barrels per day, which was the highest value in recent years. Moreover, if in relation to the previous quarter the growth in production was slightly less than 1%, then in comparison with 2022 Q2 this figure was already 8.7%.
Dry Natural Gas Production also achieved good results. Here, production increased by about 2% compared to 2023 Q1 and by more than 5% compared to 2022 Q2. Natural gas exports also reached their maximum. True, after rapid growth in the first quarter of 2023, coal production decreased noticeably. In addition, the volume of electricity generation also decreased slightly.
Production of energy products in the US, 2022 Q2 - 2023 Q2
| Energy Indicator/Q | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 |
|---|---|---|---|---|---|
| Crude Oil, Field Production (Thousand Barrels per Day) | 11698 | 12061 | 12298 | 12596 | 12710 |
| Crude Oil, Refinery and Blender Net Inputs (Thousand Barrels per Day) | 18837 | 18917 | 17172 | 17572 | 18897 |
| Dry Natural Gas Production (Billion Cubic Feet) | 8883 | 9150 | 9214 | 9180 | 9354 |
| Natural Gas Exports, Total (Billion Cubic Feet) | 1753 | 1638 | 1705 | 1829 | 1867 |
| Coal Production (Thousand Short Tons) | 145659 | 154270 | 145666 | 148706 | 142338 |
| Electricity Net Generation (Billion Kilowatthours) | 1026 | 1188 | 1001 | 987 | 985 |
Source: Based on U.S. Energy Information Administration
It should be especially noted that oil production growth continues for the fifth quarter in a row, starting from 2022 Q1. The production and export of natural gas, although carried out with fluctuations, generally also maintains positive growth dynamics.
Electricity generation in the second quarter traditionally showed a significant decline in April and subsequent growth in May and June.
Electric power generation in the US by source type in 2022 Q1 – 2023 Q1
Source: Based on U.S. Energy Information Administration
In the second quarter, electricity generation through gas power plants increased significantly, with a share growth of 4.8% compared to the previous quarter. Of the renewable sources with a positive balance, only solar energy remains. Wind power and especially hydropower could not withstand the current competition and reduced generation volumes.
Percentage of electric power generation by source type in 2022 Q1 and 2023 Q1
Source: Based on U.S. Energy Information Administration
Following the fall in coal production in the second quarter of this year, the volume of coal-fired electricity generation also decreased significantly.
By the Editorial Board
