Aenert news. Energy Market & Energy Statistics
Official publication of the U.S. The Energy Information Administration's results for the third quarter of this year confirmed record quarterly and monthly figures for many items. First, historically record daily production of crude oil and natural gas was achieved. Secondly, natural gas exports increased significantly, which was 15.6% more than in the same quarter a year earlier and almost 1.5% more than in the previous quarter.
Third, if you look at the structure of natural gas consumption by sector, you will find that Electric Power again supported seasonal demand for natural gas at a record level. In addition, total electricity generation was the highest in the entire last year. Also again at a high level was Refinery and Blender Net Inputs, which was statistically slightly lower than in 2022 Q3, but higher in all subsequent quarters.
Of course, the most significant event among the above is the daily production of crude oil, which in September amounted to an exorbitant 13,236 Thousand Barrels per Day. Let’s say in passing that this claim to world leadership is likely to last for a long time. Even though in October and November 2023 this production was less than the September record, it still remained above the psychological mark of 13 million Barrels per Day.
Production of energy products in the US, 2022 Q3 - 2023 Q3
| Energy Indicator/Q | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|
| Crude Oil, Field Production (Thousand Barrels per Day) | 12061 | 12298 | 12596 | 12710 | 13058 |
| Crude Oil, Refinery and Blender Net Inputs (Thousand Barrels per Day) | 18917 | 17172 | 17572 | 18897 | 18915 |
| Dry Natural Gas Production (Billion Cubic Feet) | 9150 | 9214 | 9180 | 9354 | 9571 |
| Natural Gas Exports, Total (Billion Cubic Feet) | 1638 | 1705 | 1829 | 1867 | 1894 |
| Coal Production (Thousand Short Tons) | 154270 | 145666 | 148706 | 142338 | 145605 |
| Electricity Net Generation (Billion Kilowatthours) | 1188 | 1001 | 987 | 985 | 1208 |
Source: Based on U.S. Energy Information Administration
Such impressive performance of the energy industry in the United States in 2023 Q3 runs counter to constantly emerging forecasts of the country's transition into a deep economic recession. It is obvious that energy is a direct reflection of the state of the economy as a whole and cannot contradict its main trends.
Electric power generation in the US by source type in 2022 Q3 – 2023 Q3
Source: Based on U.S. Energy Information Administration
As mentioned above, in 2023 Q3 in the United States, demand for electricity was unusually high. In the previous quarter, electricity generation was approximately 22.5% less, but a year earlier it was almost the same as in the current quarter.
Percentage of electric power generation by source type in 2022 Q3 and 2023 Q3
Source: Based on U.S. Energy Information Administration
In 2023 Q3, the structure of electricity consumption has changed significantly. Natural gas consumption in the electric power industry increased by 1.7%, mainly due to a decrease in electricity generation through coal. Electricity generation from solar systems increased by 0.6%. The share of hydropower decreased by 0.5%.
By the Editorial Board
