Steo Full

Short-Term
Energy Outlook
STEO
April 2024
April 2024
The U.S. Energy Information Administration (EIA), the statistical and analytical agency within the
U.S. Department of Energy (DOE), prepared this report. By law, our data, analyses, and forecasts are
independent of approval by any other officer or employee of the U.S. Government. The views in this
report do not represent those of DOE or any other federal agencies.
U.S. Energy Information Administration | Short-Term Energy Outlook 1

April 2024
Short-Term Energy Outlook
Overview
U.S. energy market indicators 2023 2024 2025
Brent crude oil spot price (dollars per barrel) $82 $89 $87
Retail gasoline price (dollars per gallon) $3.50 $3.60 $3.60
U.S. crude oil production (million barrels per day) 12.9 13.2 13.7
Natural gas price at Henry Hub (dollars per million British
thermal units) $2.50 $2.20 $2.90
U.S. liquefied natural gas gross exports (billion cubic feet
per day) 12 12 14
Shares of U.S. electricity generation
Natural gas 42% 42% 41%
Coal 17% 15% 14%
Renewables 21% 24% 25%
Nuclear 19% 19% 19%
U.S. GDP (percentage change) 2.5% 2.5% 1.5%
U.S. CO2 emissions (billion metric tons) 4.8 4.8 4.7
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, April 2024
• Global oil consumption. This month we revised the 2022 global liquid fuels consumption data
available in our International Energy Statistics, increasing our assessment of global oil consumption
that year by nearly 0.8 million barrels per day (b/d) compared to last month’s STEO. The historic
data serves as a baseline for our short-term forecasts, affecting our view of energy markets this year
and next. This month’s revision to historic data, as well as current market dynamics, led us to
increase our forecasts for global oil consumption in 2024 and 2025 between 0.4 million b/d and 0.5
million b/d in both years.
• Global oil prices. We forecast the Brent crude oil spot price will average $90 per barrel (b) in the
second quarter of 2024 (2Q24) $2/b more than our March STEO, and average $89/b in 2024. This
increase reflects our expectation of strong global oil inventory draws during this quarter and
ongoing geopolitical risks.
• Natural gas inventories. The U.S. winter natural gas withdrawal season ended with 39% more
natural gas in storage compared with the five-year average. From April through October this year,
we forecast less natural gas will be injected into storage than is typical, largely because we expect
the United States will produce less natural gas on average in 2Q24 and 3Q24 compared with 1Q24.
Despite lower production, we still expect the United States will have the most natural gas in storage
on record when the winter withdrawal season begins in November. As a result of high inventories,
we expect the Henry Hub spot price to average less than $2.00 per million British thermal units

April 2024
(MMBtu) in 2Q24 before increasing slightly in 3Q24. Our forecast for all of 2024 averages about
$2.20/MMBtu.
• Electricity consumption. We expect hotter summer temperatures this year compared with last year
will increase residential electricity consumption by almost 4% in 2024 compared with last year. The
rise in residential electricity consumption occurs primarily during the summer months (April–
October), supported by our expectation of 7% more cooling degree days than last summer.
• Coal exports. After the Port of Baltimore was closed as a result of the collapse of the Francis Scott
Key bridge, we reduced our forecast for coal exports by more than 30% in April and 20% in May
compared with the March STEO. Baltimore is the second-largest export hub for coal in the United
States.
Notable forecast changes

Current forecast: April 9, 2024; previous forecast: March 12, 2024 2024 2025
Coal exports (million short tons) 94 105
Previous forecast 101 106
Percentage change -6.3% -0.9%
Brent spot price (dollars per barrel) $89 $87
Previous forecast $87 $85
Percentage change 1.8% 2.6%
Retail gasoline price (dollars per gallon) $3.60 $3.60
Previous forecast $3.50 $3.40
Percentage change 3.1% 3.8%
Henry Hub spot price (dollars per million British thermal units) $2.20 $2.90
Previous forecast $2.30 $2.90
Percentage change -5.2% -1.7%
Global liquid fuels consumption (dollars per million British thermal units) 102.9 104.3
Previous forecast 102.4 103.8
Change 0.5 0.4
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook

April 2024
Global Oil Markets

Global oil consumption
This month’s STEO incorporates the recent update to our International Energy Statistics for 2022. This
update increased our assessment of global liquid fuels consumption for 2022 by nearly 0.8 million
barrels per day (b/d) compared with last month’s STEO. Most of this change reflects non-OECD
consumption that is higher than we previously estimated. The higher baseline historical data for 2022 in
turn increased our estimate of consumption in 2023 and our forecasts for 2024 and 2025. We now
estimate that global liquid fuels consumption averaged 102.0 million b/d in 2023, a 2.0 million b/d
increase from 2022 and about 1.0 million b/d higher than in last month’s STEO. Global liquid fuels
consumption in our forecast now averages 102.9 million b/d in 2024 and 104.3 million b/d in 2025,
which is between 0.4 million b/d and 0.5 million b/d more in both years than in last month’s STEO. Year-
over-year forecast consumption growth in 2025 is largely unchanged compared with the March STEO.
Although the revisions to historical consumption resulted in more forecast petroleum consumption,
they also decreased demand growth in 2024 compared with our previous STEO. However, the sources of
growth remain the same; non-OECD Asian countries—particularly China and India—drive global liquid
fuels demand growth in our forecast, although we also expect significant growth in the Middle East and
United States.
Global oil prices and inventories

The Brent crude oil spot price averaged $85 per barrel (b) in March, a $2/b increase compared with
February and the third consecutive month when the average Brent price increased. Oil prices continued
to increase in March as a result of heightened geopolitical risk related to the attacks targeting
commercial ships transiting the Red Sea shipping channel and general elevated tensions around the
region. In addition, the recent extension of OPEC+ voluntary production cuts add to upward price

April 2024
pressure right at a time of the year when oil demand typically increases because of the spring and
summer driving seasons in the Northern Hemisphere.
The combination of flat production and rising consumption causes our forecast of global oil inventories
to fall by more than 0.9 million b/d in 2Q24, which we expect will add upward pressure to oil prices. We
expect the tighter market balance to keep oil prices relatively elevated, averaging $90 in 2Q24—$2/b
higher than in last month’s STEO.
We forecast oil inventories will begin increasing in 2025 because we assume OPEC+ production will
increase when OPEC+ supply cuts expire. We forecast global oil inventories to increase by an average 0.4
million b/d in 2025, which we expect will put downward pressure on prices. We forecast the Brent crude
oil price will decrease year-over-year from an average $90/b in 4Q24 to an average $86/b in 4Q25, with
annual averages of $89/b in 2024 and $87/b in 2025.
Global oil production

We expect global production of liquid fuels to increase by more than 0.8 million b/d in 2024, slowing
from the 1.8 million b/d increase in 2023, as OPEC+ voluntary production cuts are offset by supply
growth outside of OPEC+. Although forecast OPEC+ crude oil production in 2024 decreases by 0.9 million
b/d compared with last year, forecast production outside of OPEC+ increases by 1.8 million b/d, led by
the United States, Guyana, Brazil, and Canada. Global liquid fuels production in our forecast increases by
2.0 million b/d in 2025 as the OPEC+ production cuts expire and supply growth outside of OPEC+
continues to grow.
Petroleum Products
Gasoline prices
We forecast U.S. retail gasoline prices will average about $3.60 per gallon (gal) in 2024, an increase of
about 10 cents/gal from our March STEO and a slight increase from the average price in 2023. This
increase is driven by rising wholesale gasoline prices compared with the March STEO as well as higher
crude oil prices. We now forecast the wholesale gasoline price will average more than $2.70/gal in 2024,
also 10 cents/gal more than in 2023. The higher forecast wholesale gasoline prices compared with our
March STEO reflects our expectation of more gasoline exports and lower gasoline inventories, leading to
an increase in the 2024 annual average crack spread for gasoline relative to last month’s forecast.

April 2024
We expect higher crude oil prices will put additional upward pressure on the gasoline price this year
compared with 2023. Our forecast that crude oil prices in 2024 will be higher than we expected last
month is responsible for about half of the increase in average 2024 gasoline prices compared to the
March STEO. Retail and distribution margins for gasoline—the difference between the average retail
price and the refiner price for resale—were lower in February and March compared with the same
months in 2023. Retail and distribution margins can reflect a wide variety of factors including taxes,
wages, and regional and logistical complications. We forecast these lower retail margins to dampen the
effect of higher crude oil prices and crack spreads on overall retail prices this year. Retail and
distribution margins can be volatile, and they present a source of uncertainty for retail gasoline prices
this summer and through the rest of the year; higher margins than we expect could lead to higher
gasoline prices.
Gasoline inventories and net trade

We have reduced our forecast for end-of-period motor gasoline stocks by almost 7 million barrels in
2Q24 compared to the March STEO. Our outlook for gasoline inventories has gradually decreased since
the beginning of 2024 as lower refinery production and higher net exports (exports minus imports) of
gasoline have contributed to stronger-than-expected inventory draws so far this year. As a result, we
now expect end-of-month gasoline inventories to average about 4 million barrels lower throughout
2024 compared with our previous forecast, contributing to tight market conditions for gasoline during
the summer.

April 2024
Data from our Weekly Petroleum Status Report show higher gasoline net exports so far this year, which
led us to revise our outlook for gasoline trade compared with our last forecast. We expect gasoline net
exports to increase slightly from 2023 levels this year. Damage related to Ukraine’s attacks on Russian
refineries will contribute to slightly lower international supplies because of reduced Russian production.
We estimate this will have a relatively limited impact on global gasoline availability because Russian
refiners tend to produce significantly more diesel than gasoline, and because increasing liquid fuels
production at new refineries in the Middle East will partially ease international supply pressures.
However, further constraints on global gasoline availability could increase gasoline net exports from the
United States this year, presenting further uncertainty for our U.S. gasoline forecast.

April 2024
Natural Gas
Natural gas storage
We estimate that U.S. natural gas storage inventories were 39% higher at the end of the withdrawal
season (November–March) than the five-year (2019–2023) average. The United States started the
winter heating season with a 5% surplus to the five-year average. The surplus at the start of winter and a
mild winter that resulted in below-average natural gas consumption in the residential and commercial
sectors led to the large storage inventory surplus at the end of March. The large storage surplus
contributed to low natural gas prices throughout the first quarter of 2024 (1Q24). Natural gas prices at
the U.S. benchmark Henry Hub averaged less than $2.00 per million British thermal units (MMBtu) in
both February and March. We forecast the Henry Hub price to average less than $2.00/MMBtu in 2Q24
and about $2.20/MMBtu for all of 2024.
From April through October this year, we forecast less natural gas will be injected into storage than is
typical, largely because we expect the United States will produce less natural gas on average in 2Q24
and 3Q24 compared with 1Q24. Despite lower production, we still expect the United States will end the
injection season with 4,120 Bcf of natural gas in storage, 10% more than the five-year average and the
most on record.
We forecast U.S. dry natural gas production to average about 103 billion cubic feet per day (Bcf/d) from
April through October, down slightly from last year’s average of 104 Bcf/d for the same period. We
forecast U.S. natural gas consumed for electricity generation to average 38 Bcf/d from April through
October, about the same as during the same period last year. If dry natural gas production declines
substantially more than we forecast or natural gas consumed for electricity generation increases more
than we forecast due to hotter summer temperatures, then inventories could fall below our forecast,
potentially resulting in higher prices.

April 2024
Natural gas trade

We expect U.S. liquefied natural gas (LNG) exports to average 12 Bcf/d in 2024, a 2% increase compared
with last year. In 2025, LNG exports increase by an additional 2 Bcf/d (18%) because three of the five
LNG export projects currently under construction are expected to start operations and ramp up to full
production.
We forecast that U.S. LNG export facilities will run at similar utilization rates as in 2023, adjusted for
seasonality and annual maintenance on liquefaction trains. In April and May 2024, we expect LNG
exports to decline compared with April and May 2023 because two of the three trains at the Freeport
LNG export facility are undergoing annual maintenance, coinciding with lower global LNG demand in
importing countries during the shoulder season. Later in 2024, we expect Plaquemines LNG Phase I and
Corpus Christi Stage 3 to begin LNG production and load first cargoes by the end of the year. In 2025,
the developers of the Golden Pass LNG plan to place the first two trains of this new three-train LNG
export facility in service.
We expect U.S. natural gas exports by pipeline to grow by almost 1 Bcf/d over the forecast period,
mainly because of increased natural gas exports to Mexico. We expect several pipelines in Mexico—
Tula-Villa de Reyes, Tuxpan‒Tula, and Cuxtal Phase II connecting to the Energía Mayakan pipeline on the
Yucatán Peninsula—to reach full service in 2024‒25. These pipelines started partial service in 2022–23
but are not yet fully operational. In addition, flows via the Sur de Texas-Tuxpan underwater pipeline are
likely to increase slightly in 2024, delivering natural gas from the United States to Mexico’s first LNG
export project: Fast LNG Altamira.

April 2024
Electricity, Coal, and Renewables

Electricity consumption
We forecast sales of electricity to U.S. end-use customers will increase by 2% in 2024 compared with
2023 and by 1% in 2025. The expected growth contrasts with a 2% decrease in electricity sales in 2023
compared with 2022. We expect electricity consumption to grow in all major consuming sectors this
year, with forecast growth especially strong in the residential sector, where we expect it to increase by
4%. Much of the forecast year-over-year growth in residential electricity occurs this summer. We expect
a hotter summer this year, with 7% more forecast cooling degree days in 2Q24 and 3Q24 than the same
quarters in 2023.
U.S. electricity sales to non-residential customers in the commercial and industrial sectors grow in the
forecast by 2% annually in 2024 and 1% in 2025. In some regions, we expect relatively little growth in
non-residential electricity demand because vacancies in office buildings remain high compared with pre-
pandemic levels. Areas of the country with concentrations of new large computing customers, such as
data centers, have the fastest forecast growth in total non-residential electricity consumption; we
expect the West South Central and West North Central Census Divisions together will contribute 50% of
total U.S. non-residential electricity sales growth in 2024 and almost 90% of growth in 2025.
Electricity generation
Generation from renewable energy sources is the main contributor to growth in U.S. electricity
generation over the STEO forecast. In particular, the electric power sector added 19 gigawatts (GW) of
solar capacity in 2023 (a 27% increase), and we expect 37 GW will be added in 2024 and another 32 GW
will be added in 2025. With this new capacity, we expect solar will provide 6% of total U.S. electricity
generation in 2024 and 7% in 2025, up from a 4% share in 2023.

April 2024
The increased generation from solar is likely to slow growth in generation from natural gas-fired power
plants, even with relatively low natural gas prices in the forecast. We expect the share of total U.S.
natural gas-fired generation in 2024 to average 42%, similar to 2023, before declining to 41% in 2025.
We don’t expect any new combined-cycle gas turbine plants in 2024, another reason why natural gas-
fired generation makes up a smaller portion of electricity generation. Low natural gas prices will
continue to reduce coal-fired generation; the forecast U.S. coal generation share falls to 15% in 2024
and 14% in 2025, compared with 17% last year.
Coal markets
After the Port of Baltimore was closed as a result of the collapse of the Francis Scott Key bridge, we
reduced our forecast for U.S. coal exports by almost 3 million short tons (MMst)—more than 30%-in
April and 2 MMst—about 20%--in May compared with the March STEO. The port is the second-largest
export hub for coal in the United States.
We do not expect this event to have a significant long-term impact on U.S. exports coal exports. The
price and quality of coal are important factors contributing to international demand for U.S. coal, and
we assume some coal previously exported from Baltimore will be shipped from other U.S. ports.
However, with the full closure of the port of Baltimore through at least May, as well as uncertainty
around when the port will fully open and how long it will take to clear bottlenecks, we expect U.S. coal
exports to total 94 MMst in 2024 down 6% relative to the March STEO. We expect exports in 2025 to
increase to 105 MMst in 2025, similar to our forecast in the March STEO.
As a result of growth in electricity generation from renewable sources and low natural gas prices we
expect coal-fired generation to decline, resulting in the electric power sector’s coal consumption to
decline by 8% in 2024 and to further decline by 5% in 2025. As exports temporarily drop in 2Q24 and
electric power consumption declines, we forecast coal production to be 5% lower in April and 4% lower

April 2024
in May compared with the March STEO. With exports and consumption both down relative to the March
STEO, we have lowered our forecast for coal production in 2024 to about 485 MMst.
Economy, Weather, and CO2

U.S. macroeconomics
Our forecast for April 2024 assumes real GDP will grow by 2.5% in 2024 and 1.5% in 2025, mostly
unchanged from the forecast in March. Our U.S. macroeconomic forecasts are based on S&P Global’s
macroeconomic model. We incorporate STEO energy price forecasts into the model to obtain the final
macroeconomic assumptions.
Overall, the macroeconomic forecast we use for the STEO is similar to last month. However, the small
upward revision to the forecast for the Consumer Price Index (CPI) is notable. Inflation, measured as the
year-over-year growth rate of the CPI, declined from a peak of 9.0% in June 2022 to 3.2% in February
2024. Our forecast assumes that CPI inflation will continue to decline but will not reach 2.0% until the
first quarter of 2025 (1Q25). We previously assumed CPI inflation would reach 2.0% by 3Q24, two
quarters earlier. Therefore, forecasts on monetary policy have also been revised by other agencies. We
now assume that the U.S. Federal Reserve will wait until June, as opposed to May, to reduce its target
for the Federal Funds Rate.
Our forecast assumes the unemployment rate will rise gradually, reaching 3.8% by the end of 2024 and
4.2% by the end of 2025.

April 2024
Emissions
Total U.S. energy-related carbon dioxide (CO2) emissions decrease by 1% in 2024 in our forecast, driven
exclusively by a decrease in coal consumption. Coal-related CO2 emissions decline by 8% as a result of
decreasing coal-fired electricity generation. As coal-fired electricity generation declines, several other
generation sources grow, most notably solar. Natural gas and petroleum-related CO2 emissions both
increase by about 1%; slight increases in the electric power sector’s natural gas consumption are partly
offset by decreased consumption in the industrial sector, and petroleum product consumption rises
slightly. CO2 emissions are expected to decrease by an additional 1% in 2025 driven by slight decreases
in total consumption of coal, natural gas, and petroleum products.
Decreasing CO2 emissions in our STEO forecast are consistent with emissions trends observed over the
last several years. However, analysis of emissions by fossil fuel component provides valuable insights
into the nature of these reductions. Petroleum and natural gas are the two largest sources of U.S.
energy-related CO2 emissions. However, most emissions reductions in recent years come from coal,
which represents the smallest share of total emissions. This trend in decreasing coal-related CO2
emissions is observed largely in the electric power sector, where decreases in coal-fired generating
capacity contribute to notable decreases in domestic coal consumption.

April 2024
Weather
March 2024 was milder than March 2023. The United States averaged 500 HDDs in March, 15% fewer
HDDs than in March 2023, which contributed to an overall relatively mild winter season (November
2023–March 2024). We expect 2Q24 and 3Q24to be hotter in 2024 than it was last year, with 7% more
CDDs than the same period in 2023.

Short-Term Energy Outlook
Chart Gallery
April 9, 2024
U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov
West Texas Intermediate (WTI) crude oil price and NYMEX confidence intervals
dollars per barrel 95% NYMEX
160 futures price
140 confidence
interval
120 West Texas upper bound
Intermediate (WTI) spot price
100
80 STEO forecast
NYMEX
60 futures price
40
95% NYMEX
20 futures price
0 confidence
interval
2019 2020 2021 2022 2023 2024 2025
lower bound
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, April 2024, CME
Group, Bloomberg, L.P., and Refinitiv an LSEG Business
Note: Confidence interval derived from options market information for the five trading days
ending April 4, 2024. Intervals not calculated for months with sparse trading in near-the-money
options contracts.
World
World liquid
liquidfuels
fuelsproduction
productionand consumption
and balance
consumption balance
million barrels
million barrelsper
perday
day
105
105
worldproduction
world production
100
100
forecast
forecast
worldconsumption
world consumption
95
95
90
90
85
85
////
80
80
00 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2019 2020 2021 2022 2023 2024 2025
6
6
4
4 impliedstock
implied stock build
build
2
2
0
0
-2
-2 impliedstock
implied stockdraw
draw
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Information Administration,
Administration, Short-Term
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
World liquid
World liquidfuels
fuelsproduction
production World liquid
World liquidfuels
fuelsconsumption
consumption
million barrels
million barrelsper
perday
day million barrels
million barrelsper
perday
day
120
120 120
120
forecast
forecast forecast
forecast
100
100 100
100
80
80 non-OPEC
non-OPEC 80
80 non-OECD
non-OECD
60
60 60
60
40
40 40
40
Organizationofofthe
Organization the Organizationfor
for
20
20 PetroleumExporting
Exporting
20
20 Organization
Petroleum EconomicCooperation
Economic Cooperation
Countries (OPEC) and Development
Development(OECD
(OECD
00
Countries (OPEC)
00 and ) )
2022
2022 2023
2023 2024
2024 2025
2025 2022
2022 2023
2023 2024
2024 2025
2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Worldcrude
World crudeoil
oiland
and liquid
liquid fuels
fuels production
production Componentsofofannual
Components annual change
change
millionbarrels
million barrelsper
perday
day millionbarrels
million barrelsper
perday
day
OPEC countries
OPEC countries
108
108 5
5
non-OPEC
non-OPEC
4.3
4.3
Eurasia
106
106 Eurasia
4
4 NorthAmerica
North America
104
104 Latin America
Latin America
other non-OPEC
other non-OPEC
102
102 3
3 net change
net change
100
100 2.0
2.0
2
2 1.8
1.8
98
98
96
96 monthly history
monthly history 1
1 0.8
0.8
monthly forecast
monthly forecast
94
94
annual average
annual average 0
0
//
92
92 forecast
forecast
90
0
90 -1
-1
2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. crude
U.S. crudeoil
oilproduction
change
millionbarrels
million barrelsper
perday
day millionbarrels
million barrelsper
perday
day
14
14 1.2
1.2
1.02
1.02
12
12 1.0
1.0
forecast
forecast
0.8
0.8
10
10 0.64
0.64
0.6
0.6 0.51
0.51
8 monthly history
monthly history
monthly forecast
monthly forecast 0.4
0.4 0.28
0.28
6
annual average
annual average 0.2
0.2
4
0.0
0.0
FederalGulf
Federal Gulf ofofMexico
Mexico (GOM)
(GOM)
2 -0.2
-0.2 Lower48
Lower 48excluding
excludingGOMGOM
Alaska
Alaska
net change
net change
0 -0.4
-0.4
2022 2023 2024 2025 2022 2023 2024 2025
5
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Organization of the Petroleum Exporting Countries (OPEC)
surplus crude oil production capacity
million barrels per day
6
forecast
5
2014-2023 average
4
0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Note: Black line represents 2014-2023 average (2.8 million barrels per day).
Worldliquid
World liquidfuels
fuelsconsumption
consumption Componentsofofannual
change
millionbarrels
million barrelsper
perday
day millionbarrels
million barrelsper
perday
day
108
108 4.0
4.0
forecast
forecast
106
106 3.5
3.5 world
world change
change
104
104 Organizationfor
Organization for
3.0
3.0 Economic
Economic
102
102 Cooperationand
Cooperation and
2.5
2.5 2.3
Development(OECD)
Development
100
100 2.0 (OECD)
non-OECD
monthly history
monthly history 2.0
2.0 non-OECD
98
98 monthly forecast
monthly forecast
annual average
annual average 1.4
1.5
1.5
96
96
0.9
94
94 1.0
1.0
//
92
92 0.5
0.5
0
90
90 0.0
0.0
2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Annual change in world liquid fuels consumption

3
forecast
3 2.3
2.0 world
2 other non-OECD
Middle East
2 1.4 India
0.9 China
1 other OECD
United States
1
-1
2022 2023 2024 2025
Organization for Economic Cooperation and Development (OECD)
commercial inventories of crude oil and other liquids
days of supply
100
90
80
70
60
forecast
50
monthly range from Jan 2019 − Dec 2023
//
40
30
0
Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024 Jan 2025
Estimated unplanned liquid fuels production outages among OPEC and non-
OPEC producers
4.5
4.0 non-OPEC
other
3.5 United States
Canada
3.0
Russia
2.5
OPEC
2.0 Venezuela
1.5 Saudi Arabia
Iran
1.0 Kuwait
0.5 Iraq
Nigeria
0.0
Jan 2022 Jan 2023 Jan 2024
U.S. gasoline
U.S. gasolineand
andcrude
crudeoiloil prices
prices Componentsofofannual
Components annual gasoline
gasoline
price changes
price changes
dollarsper
dollars pergallon
gallon dollars per
dollars pergallon
gallon
7.00
7.00
monthly retail regular
monthly regulargasoline
gasoline 1.75
1.75
6.50
6.50 forecast
forecast
annual average
annual average gasoline
gasoline 1.50
1.50 Brent crude
Brent crudeoil
oilprice
6.00
6.00 monthly Brent
monthly Brent crude
crudeoil
oil price
wholesale margin
5.50
5.50 annual average
annual average Brent
Brent 1.25
1.25 wholesale
over crude margin
forecast
forecast 0.95
0.95
5.00
5.00 1.00
1.00 over margin
retail crude over
4.50
4.50 retail margin over
wholesale
0.75
0.75
wholesale
4.00
4.00 net change
0.50
0.50 net change
3.50
3.50
3.00
3.00 0.25
0.25 0.06
0.06
2.50
2.50 0.00
0.00
2.00
2.00 -0.25
-0.25 -0.01
-0.01
1.50
1.50
1.00
1.00 -0.50
-0.50
-0.45
-0.45
0.50
0.50 -0.75
-0.75
0.00
0.00 -1.00
-1.00
2021 2022
2021 2022 2023 2023 2024 2024 2025 2025 2022
2022 2023
2023 2024
2024 2025
2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April and
April 2024, 2024,
and Refinitiv
Refinitiv an LSEG
an LSEG Business
Business
U.S. diesel
U.S. dieseland
andcrude
crudeoiloil prices
prices Componentsofofannual
Components annual diesel
diesel
price changes
price changes
dollarsper
dollars pergallon
gallon dollars per
dollars pergallon
gallon
8.00
8.00 monthly retail
monthly retail diesel
diesel 2.00
2.00
1.72
1.72 forecast
forecast
7.50
7.50 annual average
annual averagediesel
diesel 1.75
1.75
7.00
7.00 monthly Brent
monthly Brent crude
crudeoil
oil
6.50
6.50 1.50
1.50 Brent crude
Brent crudeoil
oilprice
price
Brent annual
Brent annual average
average
6.00
6.00 forecast
forecast
1.25
1.25 wholesalemargin
wholesale margin
5.50
5.50 1.00
1.00 over crude
over crude
5.00
5.00 retail margin
retail margin
4.50
4.50 0.75
0.75 over wholesale
wholesale
over
4.00
4.00 0.50
0.50 net change
net change
3.50
3.50 0.13
0.13
0.25
0.25
3.00
3.00
2.50
2.50 0.00
0.00
2.00
2.00 -0.25
-0.25
1.50
1.50 -0.16
-0.16
-0.50
-0.50
1.00
1.00
0.50
0.50 -0.75
-0.75
-1.00
-1.00 -0.80
-0.80
0.00
0.00
2021 2022
2021 2022 20232023 2024 2024 20252025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April and
April 2024, 2024,
and Refinitiv
Refinitiv an LSEG
an LSEG Business
Business
U.S. crude
U.S. crudeoil
oiland
andliquid
liquid fuels
fuels production
change
millionbarrels
million barrelsper
perday
day millionbarrels
million barrelsper
perday
day
25
25 2.0
2.0
1.61
1.61 biofuels
biofuels
naturalgas
natural gas
20
20 1.5
1.5 1.31
1.31 plant liquids
plant liquids
crude oil
crude oil
other
other
net change
net change
15
15 1.0
1.0
total monthly
total monthly production
production 0.80
0.80
forecast
forecast 0.43
0.43
10
10 0.5
0.5
annual average
annual average
5 0.0
0.0
forecast
forecast
0 -0.5
-0.5
2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. natural
U.S. naturalgasgasplant
plant liquids
liquids production
change
million barrels
million barrelsper
perday
day millionbarrels
million barrelsper
perday
day
8.0
8.0 0.8
0.8
forecast
forecast
7.5
7.5
0.6
0.6 0.51
0.51
7.0
7.0 0.50
0.50 net change
net change
naturalgasoline
natural gasoline
6.5
6.5 butanes
butanes
0.4
0.4 propane
propane
ethane
ethane
6.0
6.0
0.20
0.20
monthly production
monthly production 0.2
0.2 0.11
0.11
5.5
5.5
monthly forecast
monthly forecast
5.0
5.0
annual average
annual average 0.0
0.0
//
4.5
4.5
0
4.0
4.0 -0.2
-0.2
2022 2023 2024 2025 2022
2022 2023
2023 2024
2024 2025
25
2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. liquid
U.S. liquidfuels
fuelsproduct
product supplied
supplied Componentsofofannual
change
(consumption)
(consumption)
millionbarrels
million barrelsper
perday
day million barrels
million barrelsper
perday
day
25
25 0.50
0.50
forecast
forecast
0.40
0.40 0.24
0.24
20
20 0.30
0.30 0.20
0.20
0.20
0.20 0.12
0.12
0.11
15
15 monthly history
monthly history 0.10
0.10
monthly forecast
monthly forecast 0.00
0.00
10
10 annual average
annual average -0.10
-0.10
motor gasoline
motor gasoline
-0.20
-0.20 distillate fuel
distillate fuel
jet fuel
fuel
5 -0.30
-0.30 hydrocarbon
hydrocarbon gas gas
-0.40
-0.40 liquids
liquids
other fuels
other fuels
0 -0.50
-0.50 net change
net change
2022 2023 2024 2025 2022 2023 2024 2025
25
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. hydrocarbon
U.S. hydrocarbongas gas liquids
liquids Componentsofofannual
change
productsupplied
product supplied(consumption)
(consumption)
millionbarrels
million barrelsper
perday
day millionbarrels
million barrelsper
perday
day
5 0.30
0.30
forecast
forecast
4 0.20
0.20 0.15
0.10
0.10
0.10
0.10 0.05
0.05
3
0.00
0.00
-0.08
2 monthly history
monthly history net change
net change
monthly forecast
monthly forecast -0.10
-0.10 naturalgasoline
natural
ethane
gasoline
1 annual average
annual average ethane
propane
-0.20
-0.20
propane
butanes
butanes
0 -0.30
-0.30
2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. commercial crude oil inventories

million barrels
600
forecast
575
monthly range from Jan 2019 −Dec 2023
550
525
500
475
450
425
400
375
350
325
300
//
275
U.S. gasoline and distillate inventories
million barrels
280
total motor gasoline inventory forecast
260
240
220
200 monthly range from Jan 2019−Dec 2023
180
160
140
120
100 total distillate fuel inventory
80
U.S. commercial propane inventories

million barrels
125
forecast
100
75
50
25
monthly range from Jan 2019 − Dec 2023
0
Note: Excludes propylene.
U.S. net imports of crude oil and liquid fuels

8
forecast
6
crude oil
4 net imports
2
total
0 net imports
-2
petroleum
-4 product and
other liquids
-6 net imports
Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024 Jan 2025
Note: Petroleum product and other liquids include: gasoline, distillate fuels, hydrocarbon gas liquids,
jet fuel, residual fuel oil, unfinished oils, other hydrocarbons/oxygenates, and other oils.
U.S. net trade of hydrocarbon gas liquids (HGL)
0.5
forecast
0.0 net imports
net exports
-0.5
net trade
-1.0
propane
ethane
-1.5 natural gasoline
butanes
-2.0
-2.5
-3.0
2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024
Henry Hub natural gas price and NYMEX confidence intervals

dollars per million British thermal units
10
9 95% NYMEX
8 futures price
7 Henry Hub spot price confidence interval
upper bound
6
5 STEO forecast
4 NYMEX
futures price
3
2 95% NYMEX
1 futures price
confidence interval
0 lower bound
2019 2020 2021 2022 2023 2024 2025
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, April 2024, CME
Group, and Refinitiv an LSEG Business
Note: Confidence interval derived from options market information for the five trading days
ending April 4, 2024. Intervals not calculated for months with sparse trading in near-the-
money options contracts.
U.S. natural gas prices

dollars per thousand cubic feet
30
forecast
monthly residential price
annual average residential
25 monthly Henry Hub spot price
Henry Hub annual average
20
15
10
0
2020 2021 2022 2023 2024 2025
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, April 2024, and
Refinitiv an LSEG Business
U.S.
U.S. natural
naturalgas
gasproduction, consumption,
production, andand
consumption, net net
imports
imports
billion cubic
billion cubicfeet
feetper
perday
day
125
125
consumption
consumption forecast
forecast
100
100
75
75
50
50 production
production
25
25
net trade
net trade(imports
(importsminus
minus exports)
exports)
0
-25
-25
Q4 Q1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Q2 Q3
Q3 Q4
Q4
2019 2020 2021
2021 2022
2022 2023
2023 2024
2024 2025
2025
30
30 net storage
net storagebuilds
builds
20
20
10
10
0
-10
-10
-20
-20 net storage
storagewithdrawals
withdrawals
-30
-30 net
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. marketed
U.S. marketednatural
natural gas
gas production
change
billion cubic
billion cubicfeet
feetper
perday
day billion cubic
billion cubicfeet
feetper
perday
day
120
120 7
7
forecast
forecast
115
115 6
6 5.7
5.7
U.S. non-Gulf
U.S. non-Gulf
5.1
5.1
110
110 Mexico
of Mexico
5
5 U.S. Gulf
U.S. Gulfof
of
105
105 Mexico
Mexico
4
4 net change
net change
100
100
3
3
95
95
2
2 1.5
1.5
90
90 monthly history
monthly history
monthly forecast
monthly forecast 1
1
85
85
annual average
annual average
80
80 0
0
//
0
75
75 -1
-1 -0.6
-0.6
2022
2022 2023
2023 2024
2024 2025
2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. natural
U.S. naturalgas
gasconsumption
change
billion cubic
billion cubicfeet
feetper
perday
day billion cubic
billion cubicfeet
feetper
perday
day
120
120 5
5
4.5
4.5 forecast
forecast
110
110 net change
net change
4
4
100
100 industrial
industrial
electric power
electric power
90
90 3
3 residentialand
and
residential
80
80 commercial
commercial
2
2 other
other
70
70
0.8
1
1 0.6
60
60
50
50
monthly history
monthly history 0
0
40
40
monthly forecast
monthly forecast
30
30 annual average
annual average -1
-1
-0.8
-0.8
20
20
-2
-2
10
10
00 -3
-3
2022 2023 2024 2025 2022 2023 2024 25
2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. working
U.S. workingnatural
naturalgas
gasinin
storage
storage
billion cubicfeet
billion cubic feet forecast
forecast
4,500
4,500
4,000
4,000
3,500
3,500
3,000
3,000
2,500
2,500
2,000
2,000
1,500
1,500 storagelevel
level
storage
1,000
1,000
500
500 monthlyrange
monthly rangefrom
from Jan
Jan 2019
2019 − Dec
− Dec 2023
2023
0
0
Jan
Jan 2019
2019 Jan
Jan 2020
2020 Jan
Jan 2021
2021 Jan
Jan 2022
2022 Jan
Jan 2023
2023 Jan
Jan 2024
2024 Jan
Jan 2025
2025
Percentagedeviation
Percentage deviation from
from 2019
2019 − 2023
− 2023 average
average
50%
50%
forecast
forecast
25%
25%
0%
0%
-25%
-25%
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. annual natural gas trade

billion cubic feet per day
10
forecast
gross imports
5
as liquefied
natural gas
0
by pipeline
-5
net trade
-10
gross exports
-15 by pipeline
as liquefied
-20 -10.5 -10.6 natural gas
-12.8 -13.6
-25 -16.4
-30
2021 2022 2023 2024 2025
U.S. monthly
U.S. monthlynominal
nominal residential
residential Annualgrowth
Annual growthininnominal
nominal
electricityprice
electricity price residentialelectricity
residential electricityprices
prices
cents per
cents perkilowatthour
kilowatthour percent
percent
18
18 11%
11%
10.1%
10.1%
17
17 10%
10% forecast
forecast
16
16
9%
9%
15
15
14
14 8%
8%
13
13 7%
7%
12
12 6.3%
6.3%
11
11 6%
6%
10
10 5%
5%
99 3.8%
88 4%
4%
77 3%
3% 2.2%
2.2%
66 history
history
2%
2% 1.1% 1.1%
55 forecast
forecast
44 1%
1%
33 0%
0%
22 -1% -0.1%
-1% -0.1%
11 -0.8%
-0.8%
00 -2%
-2%
2018
2018 2019
2019 2020
2020 2021
2021 2022
2022 2023
2023 2024
2024 2025
2025 2018 2019 2020 2021 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. electric
U.S. electricpower
powersector
sector generating
generating capacity U.S. electricity
capacity U.S. electricitygeneration
generationbyby source
source
gigawattsatatend
gigawatts endofofperiod
period forecast
forecast trillion kilowatthours
trillion kilowatthours forecast
forecast
500
500 4.5
4.5
natural
natural
450
450 gas
gas 4.0
4.0
400
400 3.5
3.5
42% 41%
350
350 42%
3.0
3.0
300
300
2.5
2.5
250
250
15% 14%
coal 2.0
2.0 17%
200
200 coal
wind
wind 1.5
1.5 11% 11%
150
150 solar 11%
solar 7%
hydro- 4% 6%
100
100 hydro- 1.0
1.0 6% 6%
power 6%
power
nuclear
50
50 nuclear 0.5
0.5 19% 19% 19%
other
0
0 other
sources
sources 0.0
0.0
2019 2021 2023 2025 2019 2021 2023 2025
U.S. electricity
U.S. electricityconsumption
change
billion kilowatthours
billion kilowatthours billion kilowatthours
billion kilowatthours
425
425 150
150 122 forecast
forecast
400
400 96
100
100
375
375
350
350 50
50 29
325
325
0
0
300
300
residentialsales
residential sales
275
275 -50
-50 industrialsales
industrial sales
monthly history
monthly history commercialand
commercial and
250
250 -67
-67
transportationsales
sales
-100
-100 transportation
225
225 direct use
direct use
//// monthly forecast
monthly forecast net change
net change
00
200
200 -150
-150
2021
2021 2022
2022 2023
2023 2024
2024 2025
2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. coal
U.S. coalproduction
change
millionshort
million shorttons
tons million short
million shorttons
tons
70
70 40
40
forecast
forecast
16.7
16.7
60
60 20
20
0
0
50
50
-20
-20
40
40 -12.5
-12.5
-21.0
-40
-40
30
30
monthly history
monthly history -60
-60
Westernregion
Western region
20
20 monthly forecast
monthly forecast Appalachianregion
Appalachian region
-80
-80 Interiorregion
region
Interior
annual average
annual average net change
change
10
10 net
-100
-100
-96.4
-96.4
0
0 -120
-120
2021 2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. coal
U.S. coalconsumption
change
millionshort
million shorttons
tons millionshort
million shorttons
tons
70
70 100
100
forecast
forecast
coke plants
coke plants
60
60 75
75 electricpower
electric power
retail and
retail and
50
50 other industry
other industry
50
50
net change
net change
25
25
40
40
0
0
30
30
-25
-25 -16.4
20
20 monthly history
monthly history -30.1 -30.1
-50
-50
monthly forecast
monthly forecast
10
10 -75
-75
annual average
annual average
00 -100
-100 -89.0
-89.0
2021
2021 2022
2022 2023
2023 2024
2024 2025
2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
U.S. electric power coal inventories

million short tons
200
monthly range from Jan 2019 − Dec 2023 forecast
175
150
125
100
75
50
25
0
U.S. renewable
U.S. renewableenergy
energy supply
supply Componentsofofannual
change
quadrillionBritish
quadrillion Britishthermal
thermal units
units quadrillionBritish
quadrillion Britishthermal
thermal units
units
10
10 0.70
0.70
forecast
forecast 0.61
0.61
9 0.60
0.60
0.48
0.48
8 0.50
0.50 0.45
0.45 net change
net change
7 0.40
0.40 solar
solar
wind
wind
6 0.30
0.30 hydropower
0.15
0.15 hydropower
5 0.20
0.20 liquidbiofuels
liquid biofuels
geothermal
geothermal
4 0.10
0.10 woodbiomass
biomass
wood
3 0.00
0.00 wastebiomass
waste biomass
2 -0.10
-0.10
1 -0.20
-0.20 forecast
forecast
0 -0.30
-0.30
2021 2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Note:Hydropower
Note: Hydropowerexcludes
excludes pumped
pumped storage
storage generation.
generation. Liquids
Liquids include
include ethanol,
ethanol, biodiesel,
biodiesel, renewable
renewable
diesel, otherdiesel, other
biofuels, and biofuels, and biofuel
biofuel losses losses and coproducts.Waste
and coproducts.Waste biomass includesbiomass
municipalincludes
waste from
municipal
biogenic waste from
sources, landfillbiogenic
gas, andsources,
non-wood landfill
waste.gas, and non-wood waste.
U.S. annual energy expenditures
share of gross domestic product
10%
forecast
9%
8%
7%
6%
5%
4%
3%
2%
1%
0%
2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025
U.S. winter
U.S. winterheating
heatingdegree
degree days
days
population-weighted
population-weighted
1,000
1,000 4,000
4,000
2021−22
2021−22
cooler
cooler
2022−23
2022−23
2023−24
2023−24 warmer
warmer 3,000
3,000
750
750
2024−25
2024−25
previous 10-winter
previous 10-winter average
average
500
500 2,000
2,000
250
250 1,000
1,000
0
0 0
0
October
October November
November December
December January
January February
February March
March total
total winter
winter
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Note: EIA
Note: EIAcalculations
calculations based
based onon National
National Oceanic
Oceanic andand Atmospheric
Atmospheric Administration
Administration (NOAA) (NOAA)
data. data.
Projectionsreflect
Projections reflectNOAA's
NOAA's 14-16
14-16 month
month outlook.
outlook.
U.S. summer
U.S. summercooling
cooling degree
degree days
days
population-weighted
population-weighted
400
400 1,600
1,600
2022
2022 warmer
warmer
350
350 2023
2023 1,400
1,400
cooler
cooler
300
300 2024
2024
1,200
1,200
2025
2025
250
250 1,000
1,000
2014−2023 average
2014−2023 average
200
200 800
800
150
150 600
600
100
100 400
400
50
50 200
200
0
0 0
April May June July August
August September
September totaltotal
summer
summer
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Note:EIA
Note: EIAcalculations
calculations based
based onon National
National Oceanic
Oceanic and and Atmospheric
Atmospheric Administration
Administration (NOAA) (NOAA) data.
data. Projections
Projections reflect NOAA's 14-16 month outlook.
U.S. annual
U.S. annualCO2
CO2emissions
emissions
byby source
source Componentsofofannual
change
millionmetric
million metrictons
tons million metric
million metrictons
tons
6,000
6,000 400
400
forecast
forecast forecast
forecast
5,500
5,500 naturalgas
natural gas
total energy
total energy 300
300
5,000
5,000 petroleum
petroleum
4,500
4,500 coal
coal
200
200 net change
net change
4,000
4,000
3,500
3,500 100
100
37
37
3,000
3,000
petroleum
petroleum
2,500
2,500 0
0
2,000
2,000 -26
-100
-100 -43
1,500
1,500
natural gas
1,000
1,000 natural gas -134
-200
-200
500
500 coal
coal
0 -300
-300
2021 2022 2023 2024 2025 2022 2023 2024 2025
Data source:
Data source:U.S.
U.S.Energy
Energy Information
Short-Term Energy
Energy Outlook,
Outlook, April 2024
April 2024
Table 1. U.S. Energy Markets Summary
U.S. Energy Information Administration | Short-Term Energy Outlook - April 2024
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Energy Production
Crude Oil Production (a)

(million barrels per day) ............................. 12.63 12.75 13.07 13.27 12.84 13.13 13.32 13.54 13.56 13.72 13.74 13.86 12.93 13.21 13.72
Dry Natural Gas Production

(billion cubic feet per day) .......................... 102.3 103.2 104.1 105.6 103.9 103.0 103.4 104.0 103.9 105.0 105.0 105.7 103.8 103.6 104.9
Coal Production
(million short tons) ..................................... 149 142 146 145 128 112 125 121 118 108 122 117 582 485 464
Energy Consumption
Liquid Fuels
(million barrels per day) ............................. 19.66 20.38 20.37 20.56 19.82 20.65 20.72 20.60 20.30 20.63 20.69 20.61 20.25 20.45 20.56
Natural Gas
(billion cubic feet per day) .......................... 103.0 78.0 83.9 91.7 104.3 78.5 84.4 92.6 104.5 77.2 82.8 92.2 89.1 89.9 89.1
Coal (b)
(million short tons) ..................................... 102 91 132 101 98 84 123 92 92 79 123 86 427 396 380
Electricity
(billion kilowatt hours per day) ................... 10.59 10.32 12.62 10.30 10.76 10.60 12.89 10.50 10.96 10.71 12.98 10.55 10.96 11.19 11.30
Renewables (c)
(quadrillion Btu) .......................................... 2.05 2.10 2.05 2.04 2.13 2.29 2.23 2.20 2.25 2.43 2.36 2.29 8.24 8.85 9.33
Total Energy Consumption (d)

(quadrillion Btu) .......................................... 24.14 22.04 23.75 23.76 24.46 22.35 23.98 23.83 24.55 22.20 23.89 23.75 93.69 94.62 94.39
Energy Prices
Crude Oil West Texas Intermediate Spot

(dollars per barrel) ...................................... 75.96 73.49 82.25 78.63 77.50 85.30 86.84 85.17 83.84 82.50 82.50 81.16 77.58 83.78 82.48
Natural Gas Henry Hub Spot

(dollars per million Btu) .............................. 2.65 2.16 2.59 2.74 2.13 1.63 2.15 2.71 2.82 2.62 2.96 3.17 2.54 2.15 2.89
Coal
(dollars per million Btu) .............................. 2.57 2.49 2.51 2.51 2.48 2.47 2.45 2.41 2.42 2.42 2.41 2.38 2.52 2.45 2.41
Macroeconomic
Real Gross Domestic Product

(billion chained 2017 dollars - SAAR) ........ 22,112 22,225 22,491 22,669 22,780 22,886 22,996 23,089 23,161 23,240 23,329 23,429 22,374 22,938 23,290
Percent change from prior year ................. 1.7 2.4 2.9 3.1 3.0 3.0 2.2 1.9 1.7 1.5 1.4 1.5 2.5 2.5 1.5
GDP Implicit Price Deflator

(Index, 2017=100) ...................................... 121.3 121.8 122.8 123.3 124.1 124.7 125.3 126.1 127.0 127.7 128.4 129.2 122.3 125.1 128.1
Real Disposable Personal Income

(billion chained 2017 dollars - SAAR) ........ 16,663 16,797 16,820 16,911 17,016 17,174 17,312 17,443 17,587 17,719 17,840 17,955 16,798 17,236 17,775
Manufacturing Production Index

(Index, 2017=100) ...................................... 99.9 100.2 100.0 99.8 99.5 99.9 100.4 100.8 100.9 101.0 101.3 101.7 100.0 100.2 101.2
Percent change from prior year ................. -0.2 -0.7 -0.9 -0.2 -0.4 -0.3 0.4 1.0 1.5 1.2 0.8 0.9 -0.5 0.2 1.1
Weather
U.S. Heating Degree-Days ........................ 1,922 486 61 1,336 1,913 482 75 1,451 1,990 469 74 1,445 3,805 3,920 3,978
U.S. Cooling Degree-Days ........................ 68 363 941 105 42 438 959 105 51 445 966 106 1,476 1,543 1,568
(a) Includes lease condensate.
(b) Total consumption includes Independent Power Producer (IPP) consumption.
(c) Renewable energy includes minor components of non-marketed renewable energy that is neither bought nor sold, either directly or indirectly, as inputs to marketed energy.
EIA does not estimate or project end-use consumption of non-marketed renewable energy.
(d) The conversion from physical units to Btu is calculated using a subset of conversion factors used in the calculations of gross energy consumption in EIA’s Monthly Energy
Review (MER). Consequently, the historical data may not precisely match those published in the MER.
- = no data available
Notes: EIA completed modeling and analysis for this report on April 4, 2024.
The approximate break between historical and forecast values is shown with historical data printed in bold; estimates and forecasts in italics.
Prices are not adjusted for inflation.
Historical data: Latest data available from Energy Information Administration databases supporting the following reports: Petroleum Supply Monthly , DOE/EIA-0109;
Petroleum Supply Annual , DOE/EIA-0340/2; Weekly Petroleum Status Report , DOE/EIA-0208; Petroleum Marketing Monthly , DOE/EIA-0380; Natural Gas Monthly , DOE/EIA-0130;
Electric Power Monthly , DOE/EIA-0226; Quarterly Coal Report , DOE/EIA-0121; and International Petroleum Monthly , DOE/EIA-0520.
Minor discrepancies with published historical data are due to independent rounding.
Forecasts: EIA Short-Term Integrated Forecasting System. U.S. macroeconomic forecasts are based on the S&P Global model of the U.S. Economy.
Weather forecasts from National Oceanic and Atmospheric Administration and Energy Information Administration.
Table 2. Energy Prices
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Crude Oil (dollars per barrel)
West Texas Intermediate Spot Average ............................... 75.96 73.49 82.25 78.63 77.50 85.30 86.84 85.17 83.84 82.50 82.50 81.16 77.58 83.78 82.48
Brent Spot Average .............................................................. 81.04 78.02 86.64 83.93 82.96 89.97 91.34 89.67 88.34 87.00 87.00 85.66 82.41 88.55 86.98
U.S. Imported Average ......................................................... 69.58 71.08 80.97 76.04 73.55 82.54 84.11 82.45 83.88 82.50 82.50 81.18 74.59 80.52 82.58
U.S. Refiner Average Acquisition Cost ................................. 74.44 73.99 82.38 79.34 76.94 84.84 86.34 84.66 83.85 82.50 82.50 81.15 77.63 83.29 82.49
U.S. Liquid Fuels (cents per gallon)
Wholesale Petroleum Product Prices
Gasoline ............................................................................ 262 265 296 233 245 292 292 264 260 281 285 256 264 274 271
Diesel Fuel ........................................................................ 295 245 308 285 269 273 286 296 295 283 291 289 283 281 290
Fuel Oil .............................................................................. 279 231 292 274 263 263 269 284 289 274 280 280 271 270 283
Jet Fuel ............................................................................. 305 233 291 272 267 271 274 288 294 281 285 284 275 275 286
No. 6 Residual Fuel Oil (a) ................................................. 196 189 202 205 198 212 220 218 217 211 212 209 199 211 212
Propane
Mont Belvieu Spot ............................................................. 82 68 68 67 84 86 86 85 83 83 83 80 71 85 82
Retail Prices Including Taxes
Gasoline Regular Grade (b) ............................................... 338 358 376 336 324 374 380 354 347 367 372 345 352 359 358
Gasoline All Grades (b) ..................................................... 349 369 387 348 336 384 391 366 359 378 383 356 364 370 369
On-highway Diesel Fuel ..................................................... 439 394 428 426 397 401 405 419 424 416 415 420 421 406 419
Heating Oil ........................................................................ 407 353 387 395 378 366 365 403 402 378 372 394 393 382 393
Natural Gas
Henry Hub Spot (dollars per thousand cubic feet) ................. 2.76 2.25 2.69 2.84 2.21 1.69 2.23 2.81 2.93 2.72 3.07 3.30 2.63 2.24 3.01
Henry Hub Spot (dollars per million Btu) .............................. 2.65 2.16 2.59 2.74 2.13 1.63 2.15 2.71 2.82 2.62 2.96 3.17 2.54 2.15 2.89
U.S. Retail Prices (dollars per thousand cubic feet)
Industrial Sector ................................................................ 6.12 3.76 3.87 4.39 4.46 3.05 3.18 4.08 4.66 3.84 3.97 4.59 4.59 3.74 4.29
Commercial Sector ............................................................ 11.81 10.48 10.90 9.83 9.32 8.89 9.06 7.82 7.92 8.57 9.38 8.30 10.89 8.77 8.31
Residential Sector ............................................................. 14.72 16.19 22.33 13.72 11.88 13.82 18.69 11.77 10.84 13.40 18.97 12.05 15.19 12.65 12.20
U.S. Electricity
Power Generation Fuel Costs (dollars per million Btu)
Coal .................................................................................. 2.57 2.49 2.51 2.51 2.48 2.47 2.45 2.41 2.42 2.42 2.41 2.38 2.52 2.45 2.41
Natural Gas ...................................................................... 4.98 2.60 2.92 3.19 3.31 1.94 2.32 3.05 3.32 2.81 3.02 3.45 3.36 2.63 3.14
Residual Fuel Oil (c) .......................................................... 19.23 17.88 19.17 20.84 17.17 16.91 16.80 16.87 17.03 17.28 16.53 16.35 19.32 16.95 16.78
Distillate Fuel Oil ................................................................ 22.84 19.91 22.08 21.03 20.43 20.83 21.63 22.51 22.62 21.76 22.00 21.95 21.47 21.33 22.14
Prices to Ultimate Customers (cents per kilowatthour)
Industrial Sector ................................................................ 8.06 7.74 8.55 7.83 7.73 7.69 8.34 7.90 7.97 7.74 8.49 8.02 8.05 7.93 8.07
Commercial Sector ............................................................ 12.64 12.45 13.18 12.63 12.46 12.19 13.10 12.65 12.58 12.55 13.58 13.03 12.74 12.62 12.96
Residential Sector ............................................................. 15.77 16.12 16.02 16.02 15.75 15.95 15.90 15.80 15.77 16.31 16.37 16.31 15.98 15.86 16.20
(a) Average for all sulfur contents.
(b) Average self-service cash price.
(c) Includes fuel oils No. 4, No. 5, No. 6, and topped crude.
Prices are not adjusted for inflation; prices exclude taxes unless otherwise noted.
Historical data: Latest data available from Energy Information Administration databases supporting the following reports: Petroleum Marketing Monthly , DOE/EIA-0380;
Weekly Petroleum Status Report , DOE/EIA-0208; Natural Gas Monthly , DOE/EIA-0130; Electric Power Monthly , DOE/EIA-0226; and Monthly Energy Review , DOE/EIA-0035.
WTI and Brent crude oil spot prices, the Mt. Belvieu propane spot price, and the Henry Hub natural gas spot price are from
Refinitiv,an LSEG company, via EIA (https://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm).
Forecasts: EIA Short-Term Integrated Forecasting System.
Table 3a. International Petroleum and Other Liquids Production, Consumption, and Inventories
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Production (million barrels per day) (a)
OECD ................................................ 33.48 33.80 34.55 35.29 34.34 34.54 34.94 35.44 35.58 35.57 35.71 36.11 34.28 34.82 35.74
U.S. (50 States) .............................. 21.05 21.69 22.27 22.60 21.64 22.27 22.60 22.83 22.76 23.16 23.21 23.40 21.91 22.34 23.14
Canada ........................................... 5.79 5.44 5.79 6.10 6.07 5.69 5.87 6.07 6.14 5.85 6.05 6.19 5.78 5.93 6.06
Mexico ............................................ 2.07 2.16 2.11 2.09 2.05 2.02 2.00 1.97 1.97 1.94 1.92 1.90 2.11 2.01 1.93
Other OECD ................................... 4.56 4.51 4.39 4.49 4.58 4.56 4.47 4.57 4.70 4.62 4.52 4.63 4.49 4.55 4.62
Non-OECD ........................................ 67.63 67.68 67.14 67.62 67.48 67.25 68.45 68.15 68.08 68.88 69.41 69.10 67.52 67.83 68.87
OPEC .............................................. 32.77 32.46 31.63 31.88 32.05 31.77 32.56 32.46 32.48 32.65 32.73 32.45 32.18 32.21 32.58
Crude Oil Portion ......................... 27.38 27.23 26.37 26.58 26.66 26.50 27.27 27.13 27.20 27.37 27.45 27.17 26.89 26.89 27.30
Other Liquids (b) .......................... 5.40 5.22 5.26 5.30 5.40 5.27 5.30 5.33 5.28 5.28 5.28 5.28 5.29 5.32 5.28
Eurasia ............................................ 14.11 13.65 13.42 13.70 13.66 13.30 13.21 13.40 13.58 13.72 13.73 13.91 13.72 13.39 13.74
China ............................................... 5.32 5.32 5.19 5.23 5.32 5.32 5.31 5.35 5.32 5.35 5.34 5.38 5.26 5.33 5.35
Other Non-OECD ........................... 15.43 16.26 16.90 16.81 16.44 16.86 17.36 16.93 16.69 17.15 17.61 17.36 16.35 16.90 17.21
Total World Production ...................... 101.11 101.48 101.69 102.90 101.82 101.79 103.38 103.59 103.65 104.45 105.12 105.21 101.80 102.65 104.61
Non-OPEC Production ...................... 68.33 69.02 70.06 71.02 69.77 70.02 70.82 71.12 71.17 71.79 72.39 72.76 69.62 70.44 72.03
Consumption (million barrels per day) (c)

OECD ................................................ 45.22 45.68 46.04 46.08 45.43 45.60 46.30 46.39 45.88 45.56 46.26 46.37 45.76 45.93 46.02
U.S. (50 States) .............................. 19.66 20.38 20.37 20.56 19.82 20.65 20.72 20.60 20.30 20.63 20.69 20.61 20.25 20.45 20.56
U.S. Territories ............................... 0.12 0.12 0.12 0.12 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.12 0.11 0.11
Canada ........................................... 2.33 2.47 2.63 2.37 2.38 2.33 2.43 2.40 2.34 2.29 2.39 2.37 2.45 2.39 2.35
Europe ............................................ 13.09 13.55 13.64 13.33 13.18 13.33 13.74 13.50 13.16 13.32 13.73 13.49 13.40 13.44 13.43
Japan .............................................. 3.73 3.10 3.10 3.44 3.59 2.98 3.08 3.41 3.54 2.94 3.04 3.36 3.34 3.27 3.22
Other OECD ................................... 6.29 6.06 6.19 6.26 6.34 6.20 6.22 6.35 6.42 6.27 6.29 6.43 6.20 6.28 6.35
Non-OECD ........................................ 55.75 56.27 56.37 56.42 56.63 57.13 57.09 57.06 57.87 58.41 58.36 58.32 56.21 56.98 58.24
Eurasia ............................................ 4.66 4.82 5.16 5.06 4.60 4.76 5.11 5.00 4.63 4.79 5.14 5.04 4.93 4.87 4.90
Europe ............................................ 0.74 0.76 0.77 0.77 0.75 0.77 0.77 0.77 0.76 0.78 0.78 0.78 0.76 0.76 0.77
China ............................................... 16.02 16.21 15.90 16.11 16.29 16.48 16.16 16.37 16.56 16.76 16.43 16.65 16.06 16.32 16.60
Other Asia ....................................... 14.58 14.46 13.92 14.32 14.96 14.93 14.32 14.64 15.44 15.41 14.77 15.11 14.32 14.71 15.18
Other Non-OECD ........................... 19.75 20.02 20.63 20.17 20.04 20.19 20.74 20.27 20.48 20.67 21.23 20.74 20.14 20.31 20.78
Total World Consumption .................. 100.97 101.95 102.42 102.50 102.06 102.73 103.39 103.45 103.74 103.97 104.62 104.70 101.96 102.91 104.26
Total Crude Oil and Other Liquids Inventory Net Withdrawals (million barrels per day)
U.S. (50 States) ................................. -0.08 -0.11 -0.25 0.30 0.33 -0.40 -0.26 0.32 0.01 -0.40 -0.13 0.29 -0.03 0.00 -0.06
Other OECD ...................................... 0.32 -0.02 -0.15 0.13 -0.03 0.41 0.08 -0.15 0.03 -0.02 -0.11 -0.25 0.07 0.08 -0.09
Other Stock Draws and Balance ....... -0.38 0.60 1.13 -0.84 -0.06 0.93 0.18 -0.32 0.05 -0.05 -0.25 -0.56 0.13 0.18 -0.20
Total Stock Draw ............................ -0.14 0.47 0.73 -0.40 0.24 0.94 0.00 -0.14 0.09 -0.48 -0.50 -0.52 0.17 0.26 -0.35
End-of-period Commercial Crude Oil and Other Liquids Inventories (million barrels)
U.S. Commercial Inventory ............... 1,231 1,264 1,283 1,252 1,213 1,240 1,251 1,221 1,220 1,257 1,269 1,243 1,252 1,221 1,243
OECD Commercial Inventory ............ 2,746 2,782 2,815 2,771 2,735 2,725 2,729 2,712 2,709 2,747 2,770 2,766 2,771 2,712 2,766
(a) Supply includes production of crude oil (including lease condensates), natural gas plant liquids, biofuels, other liquids, and refinery processing gains.
(b) Includes lease condensate, natural gas plant liquids, other liquids, and refinery processing gain. Includes other unaccounted-for liquids.
(c) Consumption of petroleum by the OECD countries is synonymous with "petroleum product supplied," defined in the glossary of the EIA Petroleum Supply Monthly ,
DOE/EIA-0109. Consumption of petroleum by the non-OECD countries is "apparent consumption," which includes internal consumption, refinery fuel and loss, and bunkering.
OECD = Organization for Economic Cooperation and Development: Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany,
Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia,
Slovenia, South Korea, Spain, Sweden, Switzerland, Turkiye, United Kingdom, and United States.
OPEC = Organization of the Petroleum Exporting Countries: Algeria, Congo (Brazzaville), Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia,
United Arab Emirates, Venezuela.
Historical data: Latest data available from Energy Information Administration International Energy Statistics (https://www.eia.gov/international/data/world).
Table 3b. Non-OPEC Petroleum and Other Liquids Production (million barrels per day)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
North America ....................................................... 28.91 29.29 30.16 30.80 29.76 29.98 30.46 30.87 30.87 30.95 31.18 31.48 29.80 30.27 31.13
Canada .................................................................... 5.79 5.44 5.79 6.10 6.07 5.69 5.87 6.07 6.14 5.85 6.05 6.19 5.78 5.93 6.06
Mexico ..................................................................... 2.07 2.16 2.11 2.09 2.05 2.02 2.00 1.97 1.97 1.94 1.92 1.90 2.11 2.01 1.93
United States ........................................................... 21.05 21.69 22.27 22.60 21.64 22.27 22.60 22.83 22.76 23.16 23.21 23.40 21.91 22.34 23.14
Central and South America ................................. 6.31 6.99 7.62 7.40 7.14 7.65 7.98 7.51 7.21 7.66 8.07 7.80 7.09 7.57 7.69
Argentina ................................................................. 0.81 0.81 0.82 0.84 0.87 0.87 0.89 0.91 0.90 0.91 0.93 0.95 0.82 0.89 0.92
Brazil ....................................................................... 3.55 4.19 4.82 4.49 4.02 4.53 4.86 4.41 4.15 4.59 4.91 4.50 4.27 4.46 4.54
Colombia .................................................................. 0.79 0.81 0.81 0.81 0.80 0.80 0.79 0.78 0.78 0.77 0.76 0.75 0.81 0.79 0.76
Ecuador ................................................................... 0.46 0.48 0.48 0.49 0.49 0.50 0.49 0.46 0.44 0.44 0.44 0.44 0.48 0.48 0.44
Guyana .................................................................... 0.35 0.37 0.36 0.44 0.63 0.63 0.63 0.63 0.63 0.63 0.72 0.84 0.38 0.63 0.70
Europe ................................................................... 4.01 3.95 3.84 3.94 4.04 4.02 3.94 4.04 4.18 4.08 3.98 4.09 3.94 4.01 4.08
Norway .................................................................... 2.03 2.03 1.98 2.06 2.07 2.00 2.01 2.14 2.17 2.10 2.09 2.18 2.02 2.06 2.14
United Kingdom ....................................................... 0.87 0.80 0.75 0.76 0.86 0.90 0.79 0.75 0.87 0.85 0.76 0.77 0.79 0.82 0.81
Eurasia ................................................................... 14.11 13.65 13.42 13.70 13.66 13.30 13.21 13.40 13.58 13.72 13.73 13.91 13.72 13.39 13.74
Azerbaijan ................................................................ 0.65 0.62 0.62 0.61 0.60 0.60 0.60 0.61 0.62 0.64 0.66 0.65 0.62 0.60 0.64
Kazakhstan .............................................................. 2.02 1.97 1.85 1.99 1.99 1.95 1.94 2.00 2.06 2.09 1.99 2.16 1.96 1.97 2.08
Russia ..................................................................... 11.06 10.68 10.58 10.70 10.67 10.36 10.27 10.39 10.50 10.60 10.70 10.70 10.75 10.42 10.63
Turkmenistan ........................................................... 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.27
Middle East ............................................................ 3.22 3.26 3.23 3.21 3.14 3.13 3.20 3.20 3.23 3.25 3.31 3.35 3.23 3.17 3.28
Oman ....................................................................... 1.07 1.06 1.05 1.05 1.01 1.00 1.04 1.04 1.07 1.07 1.07 1.07 1.06 1.02 1.07
Qatar ....................................................................... 1.86 1.86 1.86 1.86 1.86 1.86 1.86 1.86 1.86 1.88 1.93 1.97 1.86 1.86 1.91
Asia and Oceania ................................................. 9.21 9.24 9.12 9.26 9.41 9.39 9.38 9.41 9.43 9.45 9.45 9.49 9.21 9.40 9.46
Australia ................................................................... 0.41 0.41 0.40 0.41 0.41 0.40 0.40 0.39 0.38 0.38 0.38 0.38 0.41 0.40 0.38
China ....................................................................... 5.32 5.32 5.19 5.23 5.32 5.32 5.31 5.35 5.32 5.35 5.34 5.38 5.26 5.33 5.35
India ......................................................................... 0.85 0.88 0.92 0.94 0.97 0.97 0.96 0.96 0.99 0.99 0.98 0.98 0.90 0.96 0.99
Indonesia ................................................................. 0.82 0.88 0.87 0.87 0.88 0.88 0.88 0.87 0.89 0.88 0.88 0.88 0.86 0.88 0.88
Malaysia .................................................................. 0.61 0.58 0.58 0.61 0.59 0.59 0.58 0.58 0.58 0.58 0.59 0.59 0.60 0.58 0.59
Africa ..................................................................... 2.55 2.64 2.67 2.71 2.63 2.56 2.66 2.69 2.67 2.67 2.66 2.64 2.64 2.63 2.66
Angola ..................................................................... 1.17 1.23 1.23 1.24 1.20 1.14 1.12 1.10 1.08 1.07 1.06 1.04 1.22 1.14 1.07
Egypt ....................................................................... 0.66 0.67 0.67 0.66 0.65 0.64 0.64 0.64 0.62 0.62 0.62 0.62 0.67 0.65 0.62
South Sudan ............................................................ 0.13 0.13 0.16 0.17 0.11 0.08 0.15 0.15 0.15 0.15 0.14 0.14 0.15 0.12 0.14
Total non-OPEC liquids ......................................... 68.33 69.02 70.06 71.02 69.77 70.02 70.82 71.12 71.17 71.79 72.39 72.76 69.62 70.44 72.03
OPEC non-crude liquids ...................................... 5.40 5.22 5.26 5.30 5.40 5.27 5.30 5.33 5.28 5.28 5.28 5.28 5.29 5.32 5.28
Non-OPEC + OPEC non-crude ............................ 73.73 74.24 75.32 76.32 75.16 75.29 76.12 76.45 76.45 77.08 77.67 78.04 74.91 75.76 77.32
Unplanned non-OPEC Production Outages ......... 0.56 1.02 0.92 0.87 1.07 - - - - - - - 0.84 - -
OPEC = Organization of the Petroleum Exporting Countries: Algeria, Congo (Brazzaville), Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia,
United Arab Emirates, Venezuela.
Supply includes production of crude oil (including lease condensates), natural gas plant liquids, biofuels, other liquids, and refinery processing gains.
Not all countries are shown in each region, and sum of reported country volumes may not equal regional volumes.
Table 3c. OPEC Crude Oil (excluding condensates) Production (million barrels per day)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Crude Oil
Algeria ............................................................... 1.01 0.98 0.95 0.96 0.91 - - - - - - - 0.97 - -
Congo (Brazzaville) .......................................... 0.27 0.25 0.26 0.26 0.25 - - - - - - - 0.26 - -
Equatorial Guinea ............................................. 0.06 0.06 0.06 0.05 0.06 - - - - - - - 0.06 - -
Gabon ............................................................... 0.20 0.21 0.20 0.21 0.21 - - - - - - - 0.20 - -
Iran .................................................................... 2.60 2.74 2.97 3.18 3.23 - - - - - - - 2.87 - -
Iraq .................................................................... 4.41 4.19 4.33 4.33 4.29 - - - - - - - 4.32 - -
Kuwait ............................................................... 2.68 2.59 2.56 2.53 2.47 - - - - - - - 2.59 - -
Libya ................................................................. 1.14 1.15 1.15 1.17 1.11 - - - - - - - 1.15 - -
Nigeria .............................................................. 1.24 1.19 1.21 1.31 1.28 - - - - - - - 1.24 - -
Saudi Arabia ..................................................... 10.02 10.18 9.02 8.93 9.13 - - - - - - - 9.53 - -
United Arab Emirates ....................................... 3.06 2.94 2.91 2.90 2.92 - - - - - - - 2.95 - -
Venezuela ......................................................... 0.70 0.75 0.76 0.75 0.79 - - - - - - - 0.74 - -
OPEC Total .................................................... 27.38 27.23 26.37 26.58 26.66 26.50 27.27 27.13 27.20 27.37 27.45 27.17 26.89 26.89 27.30
Other Liquids (a) ................................................ 5.40 5.22 5.26 5.30 5.40 5.27 5.30 5.33 5.28 5.28 5.28 5.28 5.29 5.32 5.28
Total OPEC Production .................................... 32.77 32.46 31.63 31.88 32.05 31.77 32.56 32.46 32.48 32.65 32.73 32.45 32.18 32.21 32.58
OPEC+ Crude Oil Production ........................... 38.20 37.50 36.25 36.34 36.10 35.62 36.42 36.40 36.65 36.96 37.05 36.91 37.07 36.14 36.89
Crude Oil Production Capacity

Middle East ....................................................... 25.88 25.67 25.90 26.11 26.26 26.23 26.30 26.60 26.85 26.85 26.85 26.85 25.89 26.35 26.85
Other ................................................................. 4.63 4.64 4.67 4.78 4.72 4.71 4.70 4.72 4.68 4.67 4.66 4.66 4.68 4.72 4.67
OPEC Total .................................................... 30.50 30.31 30.56 30.89 30.98 30.95 31.01 31.33 31.53 31.52 31.51 31.51 30.57 31.07 31.52
Surplus Crude Oil Production Capacity

Middle East ....................................................... 3.10 3.02 4.11 4.23 4.22 4.33 3.68 4.13 4.27 4.08 4.00 4.27 3.62 4.09 4.15
Other ................................................................. 0.02 0.05 0.08 0.07 0.11 0.11 0.06 0.06 0.06 0.06 0.07 0.07 0.06 0.08 0.07
OPEC Total .................................................... 3.13 3.07 4.19 4.31 4.33 4.45 3.74 4.19 4.33 4.15 4.07 4.34 3.68 4.18 4.22
Unplanned OPEC Production Outages .......... 1.94 2.13 1.95 1.52 1.52 - - - - - - - 1.88 - -
(a) Includes lease condensate, natural gas plant liquids, other liquids, refinery processing gain, and other unaccounted-for liquids.
OPEC = Organization of the Petroleum Exporting Countries: Iran, Iraq, Kuwait, Saudi Arabia, and United Arab Emirates (Middle East); Algeria, Congo (Brazzaville), Equatorial Guinea,
Gabon, Libya, Nigeria, and Venezuela (Other).
OPEC+ = OPEC (excluding Iran, Libya, and Venezuela) plus Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, and Sudan.
Forecasts are not published for individual OPEC countries.
Table 3d. World Petroleum and Other Liquids Consumption (million barrels per day)
2023 2024 2025
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
North America ........................................................ 23.83 24.70 24.87 24.80 24.08 24.88 25.05 24.93 24.56 24.86 25.03 24.94 24.55 24.74 24.85
Canada .................................................................... 2.33 2.47 2.63 2.37 2.38 2.33 2.43 2.40 2.34 2.29 2.39 2.37 2.45 2.39 2.35
Mexico ..................................................................... 1.83 1.84 1.86 1.85 1.87 1.90 1.90 1.91 1.91 1.94 1.94 1.95 1.85 1.89 1.93
United States ........................................................... 19.66 20.38 20.37 20.56 19.82 20.65 20.72 20.60 20.30 20.63 20.69 20.61 20.25 20.45 20.56
Central and South America ................................. 6.60 6.73 6.84 6.77 6.55 6.69 6.80 6.73 6.67 6.82 6.93 6.86 6.74 6.69 6.82
Brazil ....................................................................... 3.05 3.11 3.19 3.17 3.06 3.12 3.20 3.18 3.12 3.18 3.26 3.25 3.13 3.14 3.20
Europe ................................................................... 13.84 14.31 14.41 14.10 13.93 14.10 14.51 14.28 13.92 14.10 14.51 14.28 14.17 14.20 14.20
Eurasia ................................................................... 4.66 4.82 5.16 5.06 4.60 4.76 5.11 5.00 4.63 4.79 5.14 5.04 4.93 4.87 4.90
Russia ..................................................................... 3.54 3.64 3.95 3.80 3.55 3.64 3.96 3.80 3.55 3.65 3.97 3.81 3.73 3.74 3.75
Middle East ............................................................ 9.28 9.39 9.98 9.39 9.54 9.53 10.06 9.48 9.76 9.77 10.32 9.70 9.51 9.65 9.89
Asia and Oceania ................................................. 38.20 37.42 36.66 37.73 38.72 38.10 37.28 38.28 39.44 38.85 37.99 39.01 37.50 38.09 38.82
China ....................................................................... 16.02 16.21 15.90 16.11 16.29 16.48 16.16 16.37 16.56 16.76 16.43 16.65 16.06 16.32 16.60
Japan ....................................................................... 3.73 3.10 3.10 3.44 3.59 2.98 3.08 3.41 3.54 2.94 3.04 3.36 3.34 3.27 3.22
India ......................................................................... 5.38 5.35 5.05 5.47 5.64 5.71 5.33 5.67 5.94 6.01 5.61 5.97 5.31 5.59 5.88
Africa ..................................................................... 4.56 4.58 4.49 4.66 4.65 4.67 4.58 4.75 4.76 4.78 4.69 4.86 4.57 4.66 4.77
Total OECD Liquid Fuels Consumption ............... 45.22 45.68 46.04 46.08 45.43 45.60 46.30 46.39 45.88 45.56 46.26 46.37 45.76 45.93 46.02
Total non-OECD Liquid Fuels Consumption ........ 55.75 56.27 56.37 56.42 56.63 57.13 57.09 57.06 57.87 58.41 58.36 58.32 56.21 56.98 58.24
Total World Liquid Fuels Consumption ............... 100.97 101.95 102.42 102.50 102.06 102.73 103.39 103.45 103.74 103.97 104.62 104.70 101.96 102.91 104.26
Real Gross Domestic Product (a)

World Index, 2015 Q1 = 100 .................................... 125.8 127.0 127.8 128.8 129.4 130.4 131.4 132.6 133.6 134.7 135.8 136.9 127.3 131.0 135.3
Percent change from prior year ............................. 2.8 3.6 3.1 3.2 2.9 2.7 2.9 3.0 3.2 3.3 3.3 3.3 3.2 2.9 3.3
OECD Index, 2015 = 100 ......................................... 115.9 117.6 119.8
Percent change from prior year ............................. 1.7 1.5 1.9
Non-OECD Index, 2015 = 100 ................................. 134.9 140.2 146.3
Percent change from prior year ............................. 4.4 4.0 4.4
Nominal U.S. Dollar Index (b)

Index, 2015 Q1 = 100 .............................................. 114.1 113.4 114.0 115.6 114.8 115.5 115.4 115.1 114.8 114.3 113.5 112.9 114.3 115.2 113.9
Percent change from prior year ............................. 4.2 0.5 -2.7 -2.4 0.6 1.8 1.3 -0.4 0.0 -1.0 -1.6 -1.9 -0.2 0.8 -1.2
(a) GDP values for the individual countries in the indexes are converted to U.S. dollars at purchasing power parity and then summed to create values for the world, OECD, and non-OECD. Historical and
forecast data are from Oxford Economics, and quarterly values are reindexed to 2015 Q1 by EIA.
(b) Data source is the Board of Governors of the U.S. Federal Reserve System Nominal Broad Trade-Weighted Dollar Index. An increase in the index indicates an appreciation of the U.S. dollar against a
basket of currencies and a decrese in the index indicates a depreciation of the U.S. dollar against a basket of currencies. Historical and forecast data are from Oxford Economics, and quarterly values are
reindexed to 2015 Q1 by EIA.
OECD = Organization for Economic Cooperation and Development: Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany,
Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia,
Slovenia, South Korea, Spain, Sweden, Switzerland, Turkiye, United Kingdom, and United States.
Historical data: Energy Information Administration International Energy Statistics (https://www.eia.gov/international/data/world) and Oxford Economics.
Table 4a. U.S. Petroleum and Other Liquids Supply, Consumption, and Inventories
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Supply (million barrels per day)
Crude Oil Supply
Domestic Production (a) .................................................. 12.63 12.75 13.07 13.27 12.84 13.13 13.32 13.54 13.56 13.72 13.74 13.86 12.93 13.21 13.72
Alaska .......................................................................... 0.44 0.43 0.40 0.43 0.43 0.41 0.39 0.42 0.42 0.40 0.38 0.41 0.43 0.41 0.40
Federal Gulf of Mexico (b) ............................................ 1.87 1.77 1.94 1.88 1.75 1.83 1.86 1.90 1.98 1.99 1.94 1.97 1.86 1.84 1.97
Lower 48 States (excl GOM) ........................................ 10.31 10.55 10.73 10.97 10.66 10.88 11.08 11.22 11.17 11.33 11.43 11.48 10.64 10.96 11.35
Transfers to Crude Oil Supply .......................................... 0.39 0.51 0.70 0.58 0.49 0.52 0.55 0.52 0.50 0.54 0.57 0.54 0.55 0.52 0.54
Crude Oil Net Imports (c) ................................................. 2.27 2.51 2.61 2.29 2.28 2.57 2.15 1.51 1.26 1.49 1.32 0.99 2.42 2.12 1.27
SPR Net Withdrawals ...................................................... 0.01 0.26 -0.04 -0.04 -0.10 -0.10 -0.14 0.00 0.00 0.00 0.00 0.00 0.05 -0.08 0.00
Commercial Inventory Net Withdrawals ........................... -0.39 0.12 0.41 -0.10 -0.29 0.16 0.18 -0.07 -0.32 0.09 0.16 -0.08 0.01 0.00 -0.04
Crude Oil Adjustment (d) ................................................. 0.34 0.00 -0.22 -0.07 0.10 0.21 0.18 0.21 0.23 0.19 0.16 0.20 0.01 0.18 0.20
Total Crude Oil Input to Refineries ...................................... 15.25 16.15 16.51 15.93 15.32 16.48 16.25 15.71 15.23 16.04 15.96 15.50 15.96 15.94 15.68
Other Supply
Refinery Processing Gain ................................................ 0.97 1.01 1.07 1.05 0.95 1.05 1.05 1.04 0.97 1.02 1.05 1.04 1.03 1.02 1.02
Natural Gas Plant Liquids Production .............................. 6.01 6.42 6.58 6.70 6.30 6.54 6.66 6.66 6.63 6.76 6.76 6.82 6.43 6.54 6.74
Renewables and Oxygenate Production (e) ..................... 1.24 1.29 1.31 1.35 1.33 1.34 1.35 1.38 1.40 1.45 1.45 1.47 1.30 1.35 1.44
Fuel Ethanol Production ............................................... 1.00 1.00 1.02 1.05 1.04 1.02 1.02 1.03 1.03 1.03 1.02 1.04 1.02 1.03 1.03
Petroleum Products Adjustment (f) .................................. 0.20 0.22 0.23 0.23 0.21 0.22 0.21 0.22 0.20 0.21 0.21 0.21 0.22 0.21 0.21
Petroleum Products Transfers to Crude Oil Supply .......... -0.39 -0.51 -0.70 -0.58 -0.49 -0.52 -0.55 -0.52 -0.50 -0.54 -0.57 -0.54 -0.55 -0.52 -0.54
Product Net Imports (c) ................................................... -3.91 -3.71 -4.03 -4.56 -4.52 -4.00 -3.95 -4.28 -3.97 -3.82 -3.87 -4.27 -4.06 -4.19 -3.98
Hydrocarbon Gas Liquids ............................................. -2.47 -2.39 -2.42 -2.58 -2.62 -2.55 -2.52 -2.50 -2.66 -2.68 -2.60 -2.62 -2.46 -2.55 -2.64
Unfinished Oils ............................................................. 0.28 0.27 0.22 0.18 0.28 0.40 0.41 0.32 0.29 0.38 0.41 0.32 0.24 0.35 0.35
Other HC/Oxygenates .................................................. -0.05 -0.07 -0.04 -0.05 -0.06 -0.05 -0.04 -0.05 -0.09 -0.08 -0.07 -0.08 -0.05 -0.05 -0.08
Motor Gasoline Blend Comp. ........................................ 0.45 0.67 0.57 0.41 0.32 0.56 0.63 0.46 0.53 0.68 0.59 0.36 0.52 0.49 0.54
Finished Motor Gasoline ............................................... -0.75 -0.58 -0.67 -0.81 -0.79 -0.62 -0.67 -0.89 -0.70 -0.53 -0.55 -0.73 -0.70 -0.74 -0.63
Jet Fuel ........................................................................ -0.05 0.01 -0.05 -0.09 -0.09 -0.02 0.00 -0.01 -0.03 0.05 0.07 0.05 -0.05 -0.03 0.03
Distillate Fuel Oil .......................................................... -0.76 -0.97 -1.01 -1.01 -0.87 -0.96 -1.02 -0.93 -0.64 -0.91 -0.94 -0.86 -0.94 -0.95 -0.84
Residual Fuel Oil .......................................................... 0.01 -0.04 -0.03 0.00 -0.03 -0.11 -0.12 -0.04 -0.06 -0.06 -0.11 -0.03 -0.01 -0.07 -0.07
Other Oils (g) ............................................................... -0.58 -0.61 -0.59 -0.61 -0.65 -0.66 -0.62 -0.63 -0.61 -0.67 -0.65 -0.69 -0.60 -0.64 -0.66
Product Inventory Net Withdrawals .................................. 0.30 -0.49 -0.61 0.44 0.71 -0.45 -0.30 0.39 0.34 -0.49 -0.29 0.37 -0.09 0.09 -0.02
Total Supply ....................................................................... 19.67 20.38 20.37 20.56 19.82 20.65 20.72 20.60 20.30 20.63 20.69 20.61 20.25 20.45 20.56
Consumption (million barrels per day)

Hydrocarbon Gas Liquids ................................................ 3.40 3.36 3.25 3.81 3.75 3.39 3.46 3.83 3.83 3.44 3.48 3.87 3.46 3.61 3.65
Other HC/Oxygenates ..................................................... 0.22 0.28 0.28 0.28 0.28 0.30 0.30 0.33 0.34 0.37 0.37 0.40 0.27 0.30 0.37
Unfinished Oils ................................................................ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Motor Gasoline ................................................................ 8.67 9.13 9.05 8.93 8.62 9.17 9.14 8.80 8.65 9.12 9.07 8.72 8.94 8.94 8.89
Fuel Ethanol blended into Motor Gasoline .................... 0.90 0.94 0.94 0.94 0.89 0.95 0.95 0.94 0.90 0.95 0.95 0.94 0.93 0.93 0.93
Jet Fuel ........................................................................... 1.55 1.67 1.72 1.66 1.57 1.72 1.73 1.68 1.63 1.75 1.77 1.73 1.65 1.67 1.72
Distillate Fuel Oil ............................................................. 4.01 3.93 3.90 3.90 3.84 4.00 3.91 4.00 4.08 3.94 3.89 3.98 3.93 3.94 3.97
Residual Fuel Oil ............................................................. 0.29 0.22 0.27 0.31 0.29 0.26 0.22 0.24 0.23 0.23 0.21 0.24 0.27 0.25 0.23
Other Oils (g) .................................................................. 1.53 1.79 1.89 1.67 1.48 1.82 1.95 1.71 1.55 1.77 1.90 1.66 1.72 1.74 1.72
Total Consumption ............................................................. 19.66 20.38 20.37 20.56 19.82 20.65 20.72 20.60 20.30 20.63 20.69 20.61 20.25 20.45 20.56
Total Petroleum and Other Liquids Net Imports ............. -1.64 -1.20 -1.42 -2.28 -2.24 -1.44 -1.81 -2.77 -2.71 -2.33 -2.55 -3.28 -1.64 -2.06 -2.72
End-of-period Inventories (million barrels)

Commercial Inventory
Crude Oil (excluding SPR) ............................................... 465.4 454.7 417.5 426.4 452.4 437.9 421.6 427.9 456.9 448.7 434.3 441.6 426.4 427.9 441.6
Hydrocarbon Gas Liquids ................................................ 174.3 225.4 279.1 223.3 165.1 214.2 255.0 211.7 174.3 227.6 268.4 227.3 223.3 211.7 227.3
Unfinished Oils ................................................................ 88.6 87.0 88.3 84.1 90.1 87.8 86.8 79.6 88.6 86.7 86.6 80.7 84.1 79.6 80.7
Other HC/Oxygenates ..................................................... 34.3 30.1 30.3 33.2 37.9 36.7 36.4 36.7 38.8 37.5 37.2 37.5 33.2 36.7 37.5
Total Motor Gasoline ....................................................... 225.3 223.2 227.6 241.3 226.9 220.0 215.9 230.5 229.1 225.0 216.9 229.1 241.3 230.5 229.1
Finished Motor Gasoline ............................................... 14.7 17.6 15.3 18.1 13.0 18.4 17.4 19.5 16.0 18.3 17.8 20.1 18.1 19.5 20.1
Motor Gasoline Blend Comp. ........................................ 210.6 205.6 212.3 223.2 211.8 201.6 198.5 211.0 213.1 206.7 199.1 208.9 223.2 211.0 208.9
Jet Fuel ........................................................................... 37.7 42.7 43.5 39.8 40.7 41.2 42.3 39.2 37.5 37.9 39.2 35.2 39.8 39.2 35.2
Distillate Fuel Oil ............................................................. 112.3 112.6 119.2 130.7 115.6 117.5 119.6 121.3 109.8 110.4 114.7 118.1 130.7 121.3 118.1
Residual Fuel Oil ............................................................. 29.6 30.4 27.5 24.1 29.8 29.7 27.4 26.8 28.1 27.8 25.8 25.3 24.1 26.8 25.3
Other Oils (g) .................................................................. 63.3 58.3 50.5 49.3 57.0 55.1 46.1 47.8 57.1 55.2 46.1 47.7 49.3 47.8 47.7
Total Commercial Inventory ................................................ 1230.8 1264.4 1283.4 1252.2 1213.4 1240.1 1251.3 1221.4 1220.2 1256.8 1269.2 1242.6 1252.2 1221.4 1242.6
Crude Oil in SPR ................................................................ 371.2 347.2 351.3 354.7 363.9 373.2 385.6 385.6 385.6 385.6 385.6 385.6 354.7 385.6 385.6
(a) Includes lease condensate.
(b) Crude oil production from U.S. Federal leases in the Gulf of Mexico (GOM).
(c) Net imports equal gross imports minus gross exports.
(d) Crude oil adjustment equals the sum of disposition items (e.g. refinery inputs) minus the sum of supply items (e.g. production).
(e) Renewables and oxygenate production includes pentanes plus, oxygenates (excluding fuel ethanol), and renewable fuels. Beginning in January 2021, renewable fuels includes biodiesel, renewable diesel,
renewable jet fuel, renewable heating oil, renewable naphtha and gasoline, and other renewable fuels. For December 2020 and prior, renewable fuels includes only biodiesel.
(f) Petroleum products adjustment includes hydrogen/oxygenates/renewables/other hydrocarbons, motor gasoline blending components, and finished motor gasoline.
(g) “Other Oils" includes aviation gasoline blend components, finished aviation gasoline, kerosene, petrochemical feedstocks, special naphthas, lubricants, waxes, petroleum coke, asphalt and road oil, still gas, and
miscellaneous products.
SPR: Strategic Petroleum Reserve
HC: Hydrocarbons
Petroleum Supply Annual , DOE/EIA-0340/2; and Weekly Petroleum Status Report , DOE/EIA-0208.
Table 4b. U.S. Hydrocarbon Gas Liquids (HGL) and Petroleum Refinery Balances (million barrels per day, except inventories and utilization factor)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
HGL Production
Natural Gas Processing Plants
Ethane .............................................................. 2.49 2.65 2.63 2.71 2.58 2.75 2.76 2.75 2.74 2.79 2.74 2.83 2.62 2.71 2.77
Propane ............................................................ 1.89 2.00 2.05 2.10 1.97 1.99 2.04 2.08 2.09 2.10 2.10 2.11 2.01 2.02 2.10
Butanes ............................................................ 0.99 1.06 1.09 1.10 1.04 1.06 1.08 1.10 1.10 1.11 1.12 1.14 1.06 1.07 1.12
Natural Gasoline (Pentanes Plus) .................... 0.64 0.73 0.81 0.79 0.71 0.74 0.78 0.74 0.71 0.76 0.79 0.75 0.74 0.74 0.75
Refinery and Blender Net Production
Ethane/Ethylene ............................................... 0.01 0.00 0.01 0.02 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.01 0.01
Propane ............................................................ 0.27 0.29 0.28 0.27 0.27 0.28 0.28 0.27 0.28 0.30 0.29 0.28 0.28 0.28 0.29
Propylene (refinery-grade) ............................... 0.24 0.26 0.25 0.26 0.27 0.29 0.27 0.28 0.27 0.28 0.27 0.27 0.25 0.28 0.28
Butanes/Butylenes ........................................... -0.05 0.28 0.21 -0.19 -0.07 0.26 0.20 -0.19 -0.08 0.27 0.20 -0.19 0.07 0.05 0.05
Renewable Fuels and Oxygenate Plant Net Production
Natural Gasoline (Pentanes Plus) .................... -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02
HGL Net Imports

Ethane ................................................................. -0.50 -0.49 -0.50 -0.40 -0.50 -0.51 -0.50 -0.50 -0.50 -0.51 -0.51 -0.55 -0.47 -0.50 -0.52
Propane/Propylene .............................................. -1.40 -1.40 -1.45 -1.65 -1.57 -1.43 -1.42 -1.48 -1.54 -1.53 -1.47 -1.50 -1.47 -1.47 -1.51
Butanes/Butylenes .............................................. -0.42 -0.41 -0.42 -0.41 -0.40 -0.45 -0.45 -0.35 -0.43 -0.48 -0.48 -0.40 -0.42 -0.41 -0.45
Natural Gasoline (Pentanes Plus) ....................... -0.15 -0.09 -0.06 -0.11 -0.16 -0.15 -0.15 -0.17 -0.19 -0.15 -0.14 -0.16 -0.10 -0.16 -0.16
HGL Refinery and Blender Net Inputs

Butanes/Butylenes .............................................. 0.48 0.29 0.35 0.57 0.46 0.30 0.35 0.55 0.46 0.29 0.34 0.54 0.42 0.42 0.41
Natural Gasoline (Pentanes Plus) ....................... 0.18 0.20 0.21 0.21 0.17 0.17 0.18 0.18 0.16 0.17 0.18 0.17 0.20 0.18 0.17
HGL Consumption
Ethane/Ethylene .................................................. 1.99 2.19 2.07 2.25 2.19 2.23 2.25 2.26 2.24 2.25 2.26 2.27 2.13 2.23 2.25
Propane ............................................................... 0.98 0.62 0.62 0.95 1.04 0.62 0.66 0.99 1.08 0.64 0.69 1.01 0.79 0.83 0.86
Propylene (refinery-grade) .................................. 0.25 0.27 0.27 0.28 0.28 0.30 0.29 0.29 0.30 0.30 0.29 0.29 0.27 0.29 0.29
HGL Inventories (million barrels)

Ethane ................................................................. 53.0 54.2 52.4 68.0 57.1 57.1 58.7 58.9 58.1 61.9 60.4 61.9 56.9 58.0 60.6
Propane ............................................................... 55.8 79.2 102.2 79.8 45.1 63.3 83.8 71.5 46.7 65.3 85.7 73.6 79.8 71.5 73.6
Propylene (at refineries only) .............................. 1.1 1.1 1.2 0.9 1.0 1.4 1.7 1.6 1.4 1.6 1.8 1.6 0.9 1.6 1.6
Refinery and Blender Net Inputs

Crude OIl ............................................................. 15.25 16.15 16.51 15.93 15.32 16.48 16.25 15.71 15.23 16.04 15.96 15.50 15.96 15.94 15.68
Hydrocarbon Gas Liquids .................................... 0.66 0.49 0.56 0.78 0.64 0.47 0.53 0.73 0.62 0.46 0.52 0.72 0.62 0.59 0.58
Other Hydrocarbons/Oxygenates ....................... 1.13 1.20 1.21 1.18 1.13 1.20 1.20 1.17 1.14 1.20 1.19 1.17 1.18 1.17 1.17
Unfinished Oils .................................................... 0.19 0.21 0.00 0.12 0.12 0.31 0.32 0.29 0.08 0.29 0.30 0.27 0.13 0.26 0.24
Motor Gasoline Blend Components .................... 0.34 0.85 0.64 0.23 0.40 0.73 0.72 0.28 0.39 0.60 0.59 0.34 0.52 0.53 0.48
Aviation Gasoline Blend Components ................ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Refinery and Blender Net Inputs ................... 17.58 18.90 18.92 18.25 17.60 19.19 19.02 18.19 17.46 18.59 18.57 18.00 18.41 18.50 18.16
Refinery Processing Gain .................................. 0.97 1.01 1.07 1.05 0.95 1.05 1.05 1.04 0.97 1.02 1.05 1.04 1.03 1.02 1.02
Refinery and Blender Net Production

Hydrocarbon Gas Liquids .................................... 0.47 0.83 0.75 0.36 0.48 0.84 0.76 0.36 0.48 0.86 0.77 0.38 0.60 0.61 0.62
Finished Motor Gasoline ..................................... 9.28 9.83 9.81 9.64 9.27 9.86 9.82 9.62 9.14 9.48 9.49 9.50 9.64 9.64 9.41
Jet Fuel ................................................................ 1.62 1.72 1.78 1.71 1.67 1.74 1.74 1.66 1.64 1.71 1.72 1.64 1.71 1.70 1.68
Distillate Fuel ....................................................... 4.69 4.91 4.99 5.04 4.55 4.98 4.96 4.94 4.59 4.86 4.88 4.88 4.91 4.86 4.80
Residual Fuel ...................................................... 0.27 0.27 0.27 0.28 0.37 0.37 0.32 0.27 0.30 0.29 0.31 0.27 0.27 0.33 0.29
Other Oils (a) ....................................................... 2.21 2.35 2.40 2.26 2.21 2.46 2.47 2.36 2.27 2.42 2.46 2.37 2.30 2.38 2.38
Total Refinery and Blender Net Production ............ 18.54 19.91 19.99 19.30 18.55 20.24 20.07 19.23 18.43 19.62 19.62 19.04 19.44 19.52 19.18
Refinery Distillation Inputs ................................ 15.78 16.75 17.02 16.47 15.67 16.85 16.68 16.11 15.64 16.43 16.40 15.91 16.51 16.33 16.10
Refinery Operable Distillation Capacity ........... 18.12 18.27 18.27 18.32 18.31 18.19 18.20 18.20 17.94 17.94 17.94 17.94 18.25 18.23 17.94
Refinery Distillation Utilization Factor .............. 0.87 0.92 0.93 0.90 0.86 0.93 0.92 0.88 0.87 0.92 0.91 0.89 0.90 0.90 0.90
(a) "Other Oils" includes aviation gasoline blend components, finished aviation gasoline, kerosene, petrochemical feedstocks, special naphthas, lubricants, waxes, petroleum coke, asphalt and road oil, still
gas, and miscellaneous products.
Petroleum Supply Annual , DOE/EIA-0340/2; Weekly Petroleum Status Report , DOE/EIA-0208.
Table 4c. U.S. Regional Motor Gasoline Prices and Inventories
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Prices (cents per gallon)
Refiner Wholesale Price .......................... 262 265 296 233 245 292 292 264 260 281 285 256 264 274 271
Gasoline Regular Grade Retail Prices Including Taxes
PADD 1 ................................................... 330 344 361 325 319 361 368 345 340 356 361 338 340 349 349
PADD 2 ................................................... 324 348 360 314 307 359 362 335 330 350 356 327 337 341 341
PADD 3 ................................................... 302 315 334 284 286 335 339 311 305 325 330 302 309 319 316
PADD 4 ................................................... 357 359 393 332 292 352 375 357 342 366 375 348 361 345 358
PADD 5 ................................................... 418 452 480 456 414 462 473 446 432 454 459 428 452 449 444
U.S. Average ........................................ 338 358 376 336 324 374 380 354 347 367 372 345 352 359 358
Gasoline All Grades Including Taxes 349 369 387 348 336 384 391 366 359 378 383 356 364 370 369
End-of-period Inventories (million barrels)

Total Gasoline Inventories
PADD 1 ................................................... 52.7 57.1 58.8 60.1 54.2 54.3 53.5 56.2 56.8 56.8 55.3 56.7 60.1 56.2 56.7
PADD 2 ................................................... 49.5 45.2 46.9 54.6 53.9 46.9 45.6 51.8 52.8 49.2 46.2 50.7 54.6 51.8 50.7
PADD 3 ................................................... 84.1 85.0 84.9 90.2 81.2 82.4 80.6 84.4 81.2 82.7 80.2 84.6 90.2 84.4 84.6
PADD 4 ................................................... 7.8 6.8 7.2 7.9 8.5 7.2 7.4 7.8 8.0 7.3 7.7 8.3 7.9 7.8 8.3
PADD 5 ................................................... 31.2 29.0 29.9 28.5 29.0 29.3 28.8 30.3 30.2 29.0 27.4 28.8 28.5 30.3 28.8
U.S. Total ............................................. 225.3 223.2 227.6 241.3 226.9 220.0 215.9 230.5 229.1 225.0 216.9 229.1 241.3 230.5 229.1
Finished Gasoline Inventories
U.S. Total ............................................. 14.7 17.6 15.3 18.1 13.0 18.4 17.4 19.5 16.0 18.3 17.8 20.1 18.1 19.5 20.1
Gasoline Blending Components Inventories
U.S. Total ............................................. 210.6 205.6 212.3 223.2 211.8 201.6 198.5 211.0 213.1 206.7 199.1 208.9 223.2 211.0 208.9
PADD = Petroleum Administration for Defense District (PADD).
See “Petroleum for Administration Defense District” in EIA’s Energy Glossary (http://www.eia.doe.gov/glossary/index.html) for a list of States in each region.
Historical data: Latest data available from Energy Information Administration databases supporting the following reports: Petroleum Marketing Monthly , DOE/EIA-0380;
Petroleum Supply Monthly , DOE/EIA-0109; Petroleum Supply Annual , DOE/EIA-0340/2; and Weekly Petroleum Status Report , DOE/EIA-0208.
Table 5a. U.S. Natural Gas Supply, Consumption, and Inventories
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Supply (billion cubic feet per day)
Total Marketed Production ............... 111.18 112.50 113.64 115.24 112.86 111.89 112.40 113.05 112.91 114.06 114.09 114.83 113.15 112.55 113.98
Alaska ........................................... 1.08 1.01 0.91 1.04 1.08 0.98 0.89 1.00 1.02 0.95 0.87 0.99 1.01 0.99 0.96
Federal GOM (a) .......................... 2.13 1.89 2.02 1.94 1.87 1.94 1.97 2.02 2.10 2.12 2.07 2.11 1.99 1.95 2.10
Lower 48 States (excl GOM) ....... 107.97 109.60 110.70 112.26 109.92 108.97 109.54 110.03 109.79 110.99 111.16 111.73 110.15 109.61 110.92
Total Dry Gas Production ............... 102.26 103.16 104.12 105.61 103.90 102.97 103.42 104.03 103.90 104.95 104.99 105.66 103.80 103.58 104.88
LNG Gross Imports ......................... 0.09 0.02 0.02 0.03 0.09 0.04 0.04 0.06 0.10 0.04 0.04 0.06 0.04 0.06 0.06
LNG Gross Exports ......................... 11.45 11.76 11.40 12.97 12.62 10.97 11.64 13.37 13.71 13.81 14.39 15.26 11.90 12.15 14.30
Pipeline Gross Imports .................... 8.45 7.32 7.94 8.23 9.07 7.07 7.27 7.49 8.29 6.98 7.24 7.48 7.98 7.72 7.49
Pipeline Gross Exports ................... 8.93 8.75 9.19 8.94 9.08 9.12 9.42 9.34 9.53 9.53 9.87 9.65 8.95 9.24 9.64
Supplemental Gaseous Fuels ........ 0.22 0.17 0.16 0.15 0.18 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17
Net Inventory Withdrawals .............. 11.96 -11.71 -6.38 0.29 12.83 -10.97 -5.93 3.50 14.82 -11.94 -6.01 4.18 -1.51 -0.15 0.22
Total Supply ....................................... 102.60 78.45 85.27 92.41 104.38 79.19 83.91 92.54 104.04 76.86 82.18 92.66 89.64 89.99 88.88
Balancing Item (b) .............................. 0.38 -0.43 -1.40 -0.73 -0.06 -0.71 0.47 0.02 0.51 0.33 0.59 -0.50 -0.55 -0.07 0.23
Total Primary Supply .......................... 102.98 78.02 83.87 91.68 104.32 78.47 84.38 92.56 104.55 77.19 82.77 92.15 89.09 89.92 89.12
Consumption (billion cubic feet per day)

Residential ...................................... 23.50 7.29 3.57 14.95 23.09 7.29 3.84 16.15 24.18 7.26 3.83 16.09 12.28 12.57 12.79
Commercial ..................................... 14.51 6.43 4.72 10.70 14.36 6.84 5.19 11.00 14.53 6.78 5.14 10.88 9.07 9.34 9.31
Industrial .......................................... 24.84 22.40 21.98 24.35 24.97 22.26 21.75 23.89 24.79 21.80 21.59 23.86 23.39 23.22 23.01
Electric Power (c) ............................ 30.77 33.41 44.84 32.56 32.41 33.66 44.91 32.49 31.55 32.86 43.49 32.20 35.43 35.88 35.05
Lease and Plant Fuel ...................... 5.31 5.37 5.43 5.50 5.39 5.34 5.37 5.40 5.39 5.45 5.45 5.48 5.40 5.37 5.44
Pipeline and Distribution Use .......... 3.87 2.93 3.15 3.44 3.90 2.89 3.12 3.45 3.91 2.85 3.07 3.44 3.34 3.34 3.32
Vehicle Use ..................................... 0.18 0.18 0.18 0.18 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.18 0.20 0.20
Total Consumption ............................. 102.98 78.02 83.87 91.68 104.32 78.47 84.38 92.56 104.55 77.19 82.77 92.15 89.09 89.92 89.12
End-of-period Inventories (billion cubic feet)

Working Gas Inventory ................... 1,850 2,902 3,490 3,457 2,290 3,288 3,834 3,512 2,178 3,265 3,817 3,432 3,457 3,512 3,432
East Region (d) ............................ 334 646 853 787 362 652 852 773 398 710 856 762 787 773 762
Midwest Region (d) ...................... 417 701 993 950 510 782 1,046 941 474 774 1,063 925 950 941 925
South Central Region (d) ............. 919 1,138 1,092 1,183 1,002 1,303 1,311 1,255 937 1,251 1,287 1,224 1,183 1,255 1,224
Mountain Region (d) .................... 79 171 239 228 162 196 248 212 137 195 244 208 228 212 208
Pacific Region (d) ......................... 74 216 278 280 228 328 344 303 208 307 335 286 280 303 286
Alaska ........................................... 27 30 35 30 25 28 33 29 24 27 32 28 30 29 28
(a) Marketed production from U.S. Federal leases in the Gulf of Mexico.
(b) The balancing item represents the difference between the sum of the components of natural gas supply and the sum of components of natural gas demand.
(c) Natural gas used for electricity generation and (a limited amount of) useful thermal output by electric utilities and independent power producers.
(d) For a list of States in each inventory region refer to Weekly Natural Gas Storage Report, Notes and Definitions (http://ir.eia.gov/ngs/notes.html) .
LNG: liquefied natural gas.
Historical data: Latest data available from Energy Information Administration databases supporting the following reports: Natural Gas Monthly , DOE/EIA-0130; and Electric Power Monthly ,
Table 5b. U.S. Regional Natural Gas Prices (dollars per thousand cubic feet)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Wholesale/Spot
Henry Hub Spot Price ......... 2.76 2.25 2.69 2.84 2.21 1.69 2.23 2.81 2.93 2.72 3.07 3.30 2.63 2.24 3.01
Residential Retail
New England ....................... 21.04 20.48 22.57 18.69 18.07 18.13 20.60 15.99 15.76 16.58 19.73 15.73 20.33 17.64 16.17
Middle Atlantic ..................... 15.60 16.03 20.74 14.33 12.77 13.39 17.77 12.20 11.32 12.84 18.06 12.65 15.64 13.05 12.43
E. N. Central ....................... 11.06 13.26 22.96 10.49 8.70 11.53 18.58 9.03 7.91 10.91 18.67 9.23 11.91 9.88 9.43
W. N. Central ...................... 13.24 15.41 22.07 11.28 10.10 12.79 19.56 10.16 9.06 11.77 18.93 10.10 13.41 11.07 10.32
S. Atlantic ........................... 17.33 20.92 30.29 16.00 13.93 17.75 24.79 14.33 13.49 18.28 26.09 14.90 18.39 15.41 15.57
E. S. Central ....................... 13.63 16.66 23.41 13.48 10.85 14.53 20.59 11.87 10.63 14.63 21.37 12.23 14.56 12.18 12.28
W. S. Central ...................... 14.58 19.81 28.70 16.41 10.96 15.45 21.15 12.57 10.00 15.25 22.11 13.21 17.00 12.78 12.61
Mountain ............................. 12.61 13.86 18.75 12.88 11.99 13.63 18.01 11.61 10.70 12.61 17.06 11.18 13.29 12.58 11.63
Pacific ................................. 20.13 17.11 18.10 17.87 15.34 14.42 15.05 14.56 15.16 14.85 15.84 15.24 18.74 14.90 15.21
U.S. Average ................... 14.72 16.19 22.33 13.72 11.88 13.82 18.69 11.77 10.84 13.40 18.97 12.05 15.19 12.65 12.20
Commercial Retail
New England ....................... 15.19 13.66 12.55 12.15 12.53 11.85 11.31 10.27 10.52 11.00 11.30 10.57 13.73 11.59 10.70
Middle Atlantic ..................... 11.94 9.25 8.06 9.48 9.89 7.77 6.79 7.25 8.05 7.49 7.27 7.82 10.23 8.38 7.79
E. N. Central ....................... 9.20 8.63 10.71 7.78 7.00 7.31 8.66 6.01 6.13 7.38 9.38 6.68 8.80 6.85 6.71
W. N. Central ...................... 11.58 11.33 11.77 8.39 7.95 8.00 8.73 6.55 6.82 7.60 9.11 7.14 10.66 7.58 7.21
S. Atlantic ........................... 12.97 11.26 11.39 10.73 10.01 9.71 9.64 8.82 8.75 9.44 9.89 9.25 11.75 9.56 9.17
E. S. Central ....................... 11.89 10.94 11.80 10.56 9.46 9.57 10.07 8.79 8.42 9.57 10.69 9.41 11.31 9.34 9.16
W. S. Central ...................... 11.01 9.68 10.37 9.74 8.60 8.14 8.20 7.18 6.73 7.73 8.68 7.85 10.31 8.07 7.51
Mountain ............................. 10.76 10.77 12.16 10.66 10.12 10.16 10.64 9.11 8.92 9.35 10.13 8.77 10.87 9.88 9.07
Pacific ................................. 16.85 12.61 13.49 13.58 12.82 11.20 11.00 10.52 11.35 10.73 11.17 10.89 14.59 11.53 11.06
U.S. Average ................... 11.81 10.48 10.90 9.83 9.32 8.89 9.06 7.82 7.92 8.57 9.38 8.30 10.89 8.77 8.31
Industrial Retail
New England ....................... 13.55 10.07 7.87 9.27 10.85 8.73 6.71 7.51 8.58 7.86 6.78 7.90 10.65 8.71 7.92
Middle Atlantic ..................... 11.94 8.97 7.89 9.35 8.79 6.60 6.62 7.62 8.13 7.17 7.49 8.20 10.34 7.83 7.90
E. N. Central ....................... 9.18 6.67 6.91 6.22 5.75 5.09 4.92 5.05 5.45 5.58 5.79 5.83 7.62 5.34 5.62
W. N. Central ...................... 8.23 4.55 4.33 4.69 5.04 3.40 3.19 4.01 4.94 4.05 4.11 4.76 5.64 3.97 4.51
S. Atlantic ........................... 6.92 4.78 5.03 5.37 4.80 3.50 3.75 4.44 5.07 4.48 4.79 5.16 5.58 4.16 4.89
E. S. Central ....................... 5.46 3.74 4.10 4.34 4.25 3.05 3.35 4.10 4.61 4.03 4.29 4.71 4.44 3.72 4.43
W. S. Central ...................... 3.39 2.21 2.71 2.79 2.53 1.84 2.32 3.03 3.23 2.82 3.14 3.51 2.77 2.43 3.18
Mountain ............................. 8.86 7.73 8.05 7.76 7.06 6.01 5.70 5.27 5.32 5.29 5.66 5.51 8.18 6.09 5.43
Pacific ................................. 10.84 8.16 8.03 9.02 8.40 6.81 6.53 6.71 7.59 6.64 6.72 6.99 9.22 7.17 7.04
U.S. Average ................... 6.12 3.76 3.87 4.39 4.46 3.05 3.18 4.08 4.66 3.84 3.97 4.59 4.59 3.74 4.29
Regions refer to U.S. Census divisions.
See "Census division" in EIA’s Energy Glossary (http://www.eia.doe.gov/glossary/index.html) for a list of States in each region.
Historical data: Latest data available from Energy Information Administration databases supporting the Natural Gas Monthly , DOE/EIA-0130.
Natural gas Henry Hub spot price is from Refinitiv,an LSEG company, via EIA (https://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm).
Table 6. U.S. Coal Supply, Consumption, and Inventories
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Supply (million short tons)
Production .................................................. 148.7 142.3 145.6 145.0 127.5 111.6 125.0 121.2 117.9 107.6 121.9 116.8 581.6 485.2 464.2
Appalachia ............................................... 42.9 42.5 40.0 41.8 38.3 32.8 29.5 29.9 31.5 30.1 28.1 28.7 167.2 130.5 118.5
Interior ..................................................... 25.4 23.5 22.6 24.6 21.2 19.2 22.0 22.4 24.1 22.4 23.8 23.2 96.1 84.8 93.5
Western ................................................... 80.4 76.4 83.0 78.5 68.0 59.6 73.4 68.8 62.3 55.1 70.0 64.8 318.3 269.9 252.3
Primary Inventory Withdrawals ................... -1.6 0.3 3.6 0.1 -1.6 0.2 3.7 0.1 -1.7 0.2 3.6 0.0 2.4 2.5 2.1
Imports ....................................................... 1.0 1.0 1.0 1.0 0.5 0.7 1.1 0.8 0.5 0.7 1.1 0.8 4.0 3.1 3.0
Exports ....................................................... 24.6 24.1 24.9 26.2 24.3 20.2 23.7 26.3 24.6 25.3 26.2 28.8 99.8 94.5 104.9
Metallurgical Coal .................................... 12.4 12.6 13.6 12.7 11.9 10.7 11.4 11.7 10.9 12.3 11.8 12.4 51.3 45.8 47.5
Steam Coal ............................................. 12.2 11.5 11.3 13.5 12.4 9.4 12.3 14.5 13.7 13.0 14.3 16.4 48.5 48.7 57.4
Total Primary Supply ..................................... 123.5 119.5 125.3 119.8 102.1 92.4 106.0 95.8 92.2 83.3 100.4 88.7 488.2 396.3 364.5
Secondary Inventory Withdrawals ............... -20.1 -19.1 11.1 -15.1 -2.7 -10.0 15.6 -5.1 -1.5 -5.1 21.6 -4.3 -43.1 -2.2 10.7
Waste Coal (a) ........................................... 2.0 1.9 2.2 2.0 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 8.1 4.8 4.8
Total Supply .................................................. 105.5 102.3 138.6 106.8 100.5 83.6 122.9 91.9 91.8 79.3 123.2 85.7 453.1 399.0 380.0
Consumption (million short tons)

Coke Plants ................................................ 4.0 3.9 4.0 3.9 3.9 4.0 4.2 4.3 4.2 4.3 4.4 4.5 15.8 16.3 17.4
Electric Power Sector (b) ............................ 91.2 82.0 122.7 91.3 88.1 74.6 113.6 81.7 81.7 69.9 113.6 75.3 387.2 358.0 340.5
Retail and Other Industry ............................ 6.5 5.6 5.3 6.2 6.0 5.0 5.1 5.9 6.0 5.1 5.1 5.9 23.6 22.0 22.1
Residential and Commercial .................... 0.2 0.1 0.1 0.2 0.3 0.2 0.1 0.2 0.3 0.2 0.1 0.2 0.7 0.8 0.9
Other Industrial ........................................ 6.3 5.5 5.1 6.0 5.7 4.8 5.0 5.7 5.6 4.9 5.0 5.7 22.9 21.2 21.2
Total Consumption ....................................... 101.7 91.5 132.0 101.4 98.0 83.6 122.9 91.9 91.8 79.3 123.2 85.7 426.5 396.4 380.0
Discrepancy (c) 3.8 10.9 6.6 5.4 2.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26.6 2.6 0.0
End-of-period Inventories (million short tons)

Primary Inventories (d) ............................... 22.4 22.1 18.5 18.4 20.0 19.8 16.1 16.0 17.6 17.5 13.9 13.9 18.4 16.0 13.9
Secondary Inventories ................................ 113.3 132.3 121.2 136.3 139.0 149.0 133.3 138.5 140.0 145.1 123.5 127.7 136.3 138.5 127.7
Electric Power Sector .............................. 109.0 127.7 116.6 131.4 134.9 144.6 128.7 133.8 136.0 140.8 118.9 123.1 131.4 133.8 123.1
Retail and General Industry ..................... 2.5 2.8 2.7 3.0 2.5 2.6 2.9 2.9 2.4 2.6 2.8 2.9 3.0 2.9 2.9
Coke Plants ............................................. 1.7 1.7 1.7 1.7 1.5 1.6 1.6 1.6 1.4 1.5 1.6 1.6 1.7 1.6 1.6
Commercial & Institutional …………… .... 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.2 0.2 0.2
Coal Market Indicators

Coal Miner Productivity
(Tons per hour) ........................................ 6.03 6.03 6.03 6.03 5.85 5.85 5.85 5.85 5.80 5.80 5.80 5.80 6.03 5.85 5.80
Total Raw Steel Production
(Million short tons per day) ....................... 0.236 0.244 0.245 0.242 0.244 0.255 0.263 0.258 0.259 0.271 0.274 0.269 0.242 0.255 0.269
Cost of Coal to Electric Utilities
(Dollars per million Btu) ........................... 2.57 2.49 2.51 2.51 2.48 2.47 2.45 2.41 2.42 2.42 2.41 2.38 2.52 2.45 2.41
(a) Waste coal includes waste coal and cloal slurry reprocessed into briquettes.
(b) Coal used for electricity generation and (a limited amount of) useful thermal output by electric utilities and independent power producers.
(c) The discrepancy reflects an unaccounted-for shipper and receiver reporting difference, assumed to be zero in the forecast period.
(d) Primary stocks are held at the mines and distribution points.
Historical data: Latest data available from Energy Information Administration databases supporting the following reports: Quarterly Coal Report , DOE/EIA-0121; and Electric Power Monthly ,
Table 7a. U.S. Electricity Industry Overview
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Electricity Supply (billion kilowatthours)
Electricity generation (a) .................... 987 984 1,209 998 1,025 1,026 1,229 1,005 1,019 1,031 1,236 1,008 4,178 4,284 4,294
Electric power sector ....................... 949 947 1,168 958 984 986 1,187 963 979 992 1,193 967 4,022 4,119 4,131
Industrial sector ............................... 35 33 36 36 37 35 38 37 36 35 37 36 139 146 144
Commercial sector .......................... 4 4 5 4 4 4 5 5 4 4 5 5 17 18 18
Net imports ....................................... 8 6 3 2 5 9 13 10 11 12 15 11 19 37 49
Total utility-scale power supply .......... 995 990 1,212 1,000 1,030 1,034 1,242 1,015 1,030 1,043 1,250 1,019 4,197 4,321 4,343
Losses and Unaccounted for (b) ....... 42 52 51 52 51 69 56 48 44 69 57 48 197 225 218
Small-scale solar generation (c) ........ 14 22 22 16 17 25 25 17 19 29 29 20 74 85 96
Residential sector ........................... 10 15 15 11 12 17 17 12 13 20 20 13 50 58 66
Commercial sector ......................... 4 6 6 4 4 7 7 4 5 7 7 5 19 22 25
Industrial sector .............................. 1 1 1 1 1 1 1 1 1 2 2 1 4 5 5
Electricity Consumption (billion kilowatthours unless noted)

Sales to Ultimate Customers ............. 919 906 1,124 912 942 929 1,148 930 950 939 1,156 934 3,861 3,949 3,980
Residential Sector ........................... 355 319 455 325 367 333 470 336 374 337 474 337 1,455 1,506 1,523
Commercial Sector ......................... 322 330 392 331 326 336 395 333 323 335 393 331 1,375 1,389 1,382
Industrial Sector .............................. 239 256 275 254 248 259 281 259 251 266 287 264 1,025 1,047 1,069
Transportation Sector ...................... 2 2 2 2 2 2 2 2 2 2 2 2 7 7 7
Direct Use (d) ..................................... 34 33 36 36 36 35 38 37 36 35 38 36 139 147 145
Total Consumption ............................ 953 939 1,161 948 979 965 1,186 966 986 974 1,194 971 4,000 4,096 4,125
Average residential electricity
usage per customer (kWh) ................. 2,530 2,268 3,243 2,316 2,592 2,348 3,319 2,373 2,619 2,356 3,318 2,360 10,357 10,633 10,653
End-of-period Fuel Inventories Held by Electric Power Sector

Coal (mmst) ........................................ 109.0 127.7 116.6 131.4 134.9 144.6 128.7 133.8 136.0 140.8 118.9 123.1 131.4 133.8 123.1
Residual Fuel (mmb) .......................... 6.1 6.2 6.4 6.3 5.9 5.1 2.8 3.3 2.1 2.3 0.6 1.4 6.3 3.3 1.4
Distillate Fuel (mmb) .......................... 17.0 16.9 16.1 16.1 15.7 15.5 15.5 15.7 15.6 15.4 15.4 15.6 16.1 15.7 15.6
Prices
Power Generation Fuel Costs (dollars per million Btu)
Coal ................................................. 2.57 2.49 2.51 2.51 2.48 2.47 2.45 2.41 2.42 2.42 2.41 2.38 2.52 2.45 2.41
Natural Gas ..................................... 4.98 2.60 2.92 3.19 3.31 1.94 2.32 3.05 3.32 2.81 3.02 3.45 3.36 2.63 3.14
Residual Fuel Oil ............................. 19.23 17.88 19.17 20.84 17.17 16.91 16.80 16.87 17.03 17.28 16.53 16.35 19.32 16.95 16.78
Distillate Fuel Oil ............................. 22.84 19.91 22.08 21.03 20.43 20.83 21.63 22.51 22.62 21.76 22.00 21.95 21.47 21.33 22.14
Prices to Ultimate Customers (cents per kilowatthour)
Residential Sector ........................... 15.77 16.12 16.02 16.02 15.75 15.95 15.90 15.80 15.77 16.31 16.37 16.31 15.98 15.86 16.20
Commercial Sector ......................... 12.64 12.45 13.18 12.63 12.46 12.19 13.10 12.65 12.58 12.55 13.58 13.03 12.74 12.62 12.96
Industrial Sector .............................. 8.06 7.74 8.55 7.83 7.73 7.69 8.34 7.90 7.97 7.74 8.49 8.02 8.05 7.93 8.07
Wholesale Electricity Prices (dollars per megawatthour)
ERCOT North hub ........................... 28.05 57.27 188.81 33.85 32.53 41.26 38.72 35.26 35.01 30.27 41.79 34.22 77.00 36.94 35.32
CAISO SP15 zone .......................... 92.54 30.00 67.59 50.54 33.41 41.81 35.10 43.08 48.77 24.34 45.06 49.00 60.17 38.35 41.79
ISO-NE Internal hub ........................ 52.63 32.55 40.41 39.84 47.50 40.37 57.39 55.87 70.37 41.89 56.99 48.92 41.36 50.28 54.54
NYISO Hudson Valley zone ............ 44.65 31.38 39.45 36.35 43.48 32.06 36.49 37.28 49.89 33.49 41.59 37.65 37.96 37.33 40.66
PJM Western hub ........................... 36.49 35.41 43.27 42.17 35.76 35.89 42.51 39.49 44.62 39.79 47.88 42.43 39.34 38.41 43.68
Midcontinent ISO Illinois hub ........... 31.39 32.13 40.60 33.58 32.52 32.68 39.79 34.62 42.96 39.21 45.03 38.27 34.42 34.90 41.37
SPP ISO South hub ........................ 28.96 34.56 46.96 28.50 31.66 37.30 46.81 39.05 42.44 41.91 52.84 42.29 34.74 38.71 44.87
SERC index, Into Southern ............. 30.53 31.66 36.45 30.40 27.96 30.23 34.48 32.33 35.42 32.54 37.58 34.49 32.26 31.25 35.01
FRCC index, Florida Reliability ....... 30.31 33.06 36.79 32.05 30.01 32.18 35.42 34.55 35.22 34.83 38.53 36.09 33.05 33.04 36.17
Northwest index, Mid-Columbia ...... 105.99 58.61 82.36 79.49 99.74 58.52 57.86 66.00 73.33 42.50 62.22 72.29 81.61 70.53 62.58
Southwest index, Palo Verde .......... 84.19 31.60 71.95 50.10 29.62 39.85 48.22 44.36 45.82 34.30 47.45 46.12 59.46 40.51 43.42
kWh = kilowatthours. Btu = British thermal units.
(a) Generation supplied by utility-scale power plants with capacity of at least one megawatt.
(b) Includes transmission and distribution losses, data collection time-frame differences, and estimation error.
(c) Solar photovoltaic systems smaller than one megawatt such as those installed on rooftops.
(d) Direct use represents commercial and industrial facility use of onsite net electricity generation; and electrical sales or transfers to adjacent or colocated facilities
for which revenue information is not available. See Table 7.6 of the EIA Monthly Energy Review.
Historical data: Latest data available from EIA databases supporting the following reports: Electric Power Monthly and Electric Power Annual (electricity supply and
consumption, fuel inventories and costs, and retail electricity prices); S&P Global Market Intelligence (wholesale electricity prices).
Minor discrepancies with published historical data are due to independent rounding and possible revisions not yet reflected in the STEO.
Forecast data: EIA Short-Term Integrated Forecasting System.
Table 7b. U.S. Regional Electricity Sales to Ultimate Customers (billion kilowatthours)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Residential Sector
New England ............... 12.2 9.8 13.7 10.8 12.7 10.3 14.6 11.2 13.2 10.4 14.7 11.2 46.5 48.9 49.4
Middle Atlantic .............. 33.3 27.5 40.1 30.2 34.5 28.8 42.8 30.5 35.2 28.9 43.1 30.6 131.2 136.6 137.8
E. N. Central ................ 46.5 39.8 52.5 41.7 48.1 42.0 56.6 43.6 50.5 42.3 56.8 43.6 180.5 190.3 193.2
W. N. Central ............... 29.4 24.1 30.8 24.2 28.9 24.3 32.5 26.1 31.0 24.7 32.9 26.3 108.6 111.9 114.9
S. Atlantic ..................... 87.2 83.8 117.9 84.2 93.5 90.0 124.9 87.1 95.1 91.7 126.0 87.2 373.0 395.6 400.1
E. S. Central ................. 29.3 25.4 37.3 26.0 32.4 26.3 38.6 26.7 32.2 26.5 38.9 26.7 118.0 124.0 124.3
W. S. Central ............... 51.6 52.4 86.9 49.5 53.8 53.5 81.8 50.8 54.5 54.6 83.0 51.4 240.4 239.9 243.5
Mountain ...................... 25.3 24.5 36.4 23.4 24.6 25.9 36.8 24.0 24.7 26.3 37.2 24.2 109.5 111.3 112.3
Pacific contiguous ........ 39.5 30.2 38.7 33.8 37.4 30.4 40.5 35.1 36.8 30.4 40.5 35.0 142.2 143.4 142.8
AK and HI ..................... 1.2 1.1 1.1 1.3 1.3 1.1 1.1 1.3 1.2 1.1 1.1 1.3 4.7 4.7 4.7
Total .......................... 355.4 318.6 455.4 325.2 367.3 332.7 470.2 336.3 374.4 336.9 474.3 337.4 1,454.7 1,506.5 1,522.9
Commercial Sector
New England ............... 11.9 11.5 13.6 11.7 12.1 11.7 13.7 11.7 12.0 11.5 13.6 11.5 48.7 49.2 48.5
Middle Atlantic .............. 35.0 33.1 39.7 34.4 35.4 33.5 40.4 34.3 35.0 33.3 40.3 34.0 142.2 143.6 142.7
E. N. Central ................ 42.4 41.9 48.0 42.1 43.3 42.5 49.0 42.5 43.3 42.3 48.8 42.2 174.5 177.3 176.6
W. N. Central ............... 25.3 25.1 28.6 25.0 25.5 25.4 29.2 25.7 25.7 25.4 29.2 25.6 104.0 105.8 106.0
S. Atlantic ..................... 75.4 81.7 96.5 80.4 77.3 84.5 98.0 81.1 77.2 84.7 98.1 81.0 333.9 340.8 341.0
E. S. Central ................. 20.6 21.8 27.1 21.6 21.5 22.2 27.3 21.6 21.2 22.0 27.0 21.3 91.1 92.6 91.5
W. S. Central ............... 47.5 51.2 63.6 50.7 46.2 51.8 62.2 50.6 45.5 51.2 61.6 50.5 213.1 210.8 208.7
Mountain ...................... 23.8 25.0 29.9 24.6 24.2 25.6 30.0 24.7 24.0 25.7 30.0 24.7 103.2 104.5 104.4
AK and HI ..................... 1.3 1.3 1.4 1.4 1.3 1.3 1.4 1.4 1.3 1.3 1.3 1.3 5.3 5.4 5.3
Total .......................... 322.0 329.7 391.9 331.3 325.6 335.8 395.2 332.9 323.0 334.5 393.3 331.1 1,374.9 1,389.4 1,381.9
Industrial Sector
New England ............... 3.7 3.7 3.9 3.6 3.6 3.6 3.9 3.6 3.6 3.6 3.9 3.5 14.9 14.7 14.5
Middle Atlantic .............. 17.3 17.7 18.9 17.3 17.4 17.6 19.0 17.3 17.4 17.9 19.3 17.6 71.3 71.3 72.2
E. N. Central ................ 44.8 45.8 48.2 45.4 45.4 45.8 48.7 46.1 45.9 46.7 49.3 46.8 184.3 186.1 188.7
W. N. Central ............... 24.1 25.5 27.2 25.8 24.8 26.0 27.9 26.6 25.5 27.0 28.8 27.5 102.6 105.4 108.9
S. Atlantic ..................... 33.5 35.2 36.4 34.0 34.0 35.1 36.5 34.3 34.1 35.9 37.1 34.8 139.1 139.8 142.0
E. S. Central ................. 23.2 23.9 24.7 23.3 23.1 23.8 24.7 23.3 23.1 23.9 24.7 23.4 95.2 94.9 95.1
W. S. Central ............... 53.6 62.4 68.6 62.5 59.9 65.6 72.6 65.1 61.8 69.1 75.8 67.9 247.2 263.2 274.6
Mountain ...................... 19.8 21.5 24.1 21.3 20.3 21.8 24.5 21.7 20.6 22.2 24.8 22.0 86.7 88.4 89.6
AK and HI ..................... 1.1 1.2 1.3 1.2 1.2 1.2 1.3 1.2 1.2 1.2 1.3 1.3 4.8 4.8 4.9
Total .......................... 239.4 256.2 275.3 254.1 247.8 259.4 280.7 258.8 251.1 266.4 286.9 264.3 1,024.9 1,046.7 1,068.6
Total All Sectors (a)
New England ............... 27.9 25.1 31.4 26.2 28.6 25.7 32.4 26.5 28.8 25.6 32.2 26.3 110.6 113.2 112.9
Middle Atlantic .............. 86.4 79.2 99.7 82.7 88.2 80.8 103.0 82.9 88.5 81.0 103.5 83.1 348.1 354.9 356.0
E. N. Central ................ 133.8 127.6 148.9 129.4 136.9 130.4 154.4 132.4 139.9 131.4 155.1 132.7 539.7 554.1 559.1
W. N. Central ............... 78.7 74.8 86.6 75.1 79.2 75.8 89.7 78.4 82.2 77.2 91.0 79.4 315.2 323.1 329.8
S. Atlantic ..................... 196.4 200.9 251.0 199.0 205.1 209.8 259.7 202.7 206.7 212.5 261.6 203.3 847.3 877.2 884.1
E. S. Central ................. 73.1 71.1 89.1 70.9 77.1 72.3 90.6 71.6 76.5 72.4 90.6 71.4 304.3 311.5 310.9
W. S. Central ............... 152.7 166.1 219.2 162.8 160.0 170.9 216.7 166.6 161.8 174.9 220.5 169.8 700.8 714.2 727.0
Mountain ...................... 68.9 71.1 90.4 69.3 69.2 73.4 91.3 70.5 69.3 74.2 92.0 70.9 299.6 304.3 306.4
AK and HI ..................... 3.7 3.6 3.7 3.9 3.7 3.6 3.8 3.9 3.7 3.6 3.7 3.8 14.9 15.0 14.8
Total .......................... 918.5 906.0 1,124.5 912.3 942.4 929.4 1,147.7 929.5 950.2 939.3 1,156.1 934.4 3,861.3 3,949.1 3,980.0
Electricity sales to ultimate customers are sold by electric utilities and power marketers for direct consumption by the customer
and not available for resale. Includes electric sales to end users by third-party owners of behind-the-meter solar photovoltaic systems.
Regions refer to U.S. Census divisions (https://www.eia.gov/tools/glossary/index.php?id=C#census_division).
(a) Total includes sales of electricity to ultimate customers in transportation sector (not shown), as well as residential, commercial, and industrial sectors.
Historical data: Latest data available from EIA databases supporting the following reports: Electric Power Monthly and Electric Power Annual.
Table 7c. U.S. Regional Electricity Prices to Ultimate Customers (Cents per Kilowatthour)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Residential Sector
New England .............. 30.65 29.58 27.17 27.72 28.69 28.00 25.64 26.66 28.53 29.10 27.54 29.11 28.72 27.17 28.48
Middle Atlantic ............. 19.70 19.13 19.86 19.63 19.62 19.31 20.16 20.01 20.13 19.91 20.79 20.55 19.61 19.81 20.38
E. N. Central ............... 16.14 16.58 15.97 16.21 15.96 16.19 15.59 16.00 15.94 16.52 16.07 16.56 16.20 15.91 16.24
W. N. Central .............. 11.85 13.52 14.23 12.65 12.10 13.36 13.88 12.34 11.95 13.53 14.14 12.61 13.07 12.95 13.07
S. Atlantic .................... 14.31 14.74 14.54 14.64 14.13 14.15 13.86 14.02 13.79 14.19 14.17 14.43 14.55 14.03 14.14
E. S. Central ............... 13.17 13.20 12.94 13.27 13.18 13.42 13.14 13.52 13.63 13.92 13.52 13.90 13.13 13.29 13.71
W. S. Central .............. 13.57 13.57 13.51 13.75 13.67 13.74 13.70 13.47 13.48 13.90 13.98 13.72 13.58 13.65 13.79
Mountain ..................... 12.96 13.88 14.10 13.74 13.38 13.84 13.79 13.50 13.41 14.08 14.21 13.97 13.71 13.65 13.95
Pacific ......................... 19.60 22.32 23.93 21.02 20.57 23.00 24.75 21.48 21.42 24.53 25.82 22.31 21.69 22.49 23.55
U.S. Average ........... 15.77 16.12 16.02 16.02 15.75 15.95 15.90 15.80 15.77 16.31 16.37 16.31 15.98 15.86 16.20
Commercial Sector
New England .............. 20.56 18.40 18.71 19.33 20.48 17.72 18.10 19.20 20.91 18.59 19.21 20.38 19.23 18.86 19.76
Middle Atlantic ............. 14.86 14.89 16.41 15.19 14.33 14.61 16.31 15.16 14.41 14.88 16.75 15.57 15.38 15.15 15.45
E. N. Central ............... 12.01 12.07 11.90 11.86 11.70 11.74 11.83 11.97 11.88 12.02 12.19 12.39 11.96 11.81 12.12
W. N. Central .............. 9.95 10.67 11.38 9.90 9.86 10.57 11.34 9.91 9.96 10.85 11.73 10.21 10.50 10.45 10.72
S. Atlantic .................... 11.31 10.95 10.90 11.01 10.87 10.41 10.46 10.60 10.62 10.49 10.71 10.87 11.03 10.57 10.67
E. S. Central ............... 12.57 12.10 12.07 12.02 12.30 12.12 12.31 12.31 12.59 12.54 12.78 12.72 12.18 12.26 12.66
W. S. Central .............. 9.35 8.83 9.55 9.14 9.13 8.79 10.03 9.98 10.11 9.97 11.13 10.44 9.23 9.52 10.46
Mountain ..................... 10.35 11.09 11.65 10.76 10.51 10.86 11.36 10.56 10.37 10.89 11.49 10.65 11.00 10.85 10.89
Pacific ......................... 18.06 18.85 22.70 19.62 18.64 18.91 22.62 19.55 18.57 19.10 23.07 20.05 19.90 20.02 20.30
U.S. Average ........... 12.64 12.45 13.18 12.63 12.46 12.19 13.10 12.65 12.58 12.55 13.58 13.03 12.74 12.62 12.96
Industrial Sector
New England .............. 16.24 15.24 15.80 15.91 16.45 14.86 15.44 15.84 16.79 15.48 16.26 16.62 15.80 15.64 16.28
Middle Atlantic ............. 8.20 7.72 7.82 7.77 7.74 7.49 7.66 7.65 7.80 7.47 7.67 7.62 7.88 7.63 7.64
E. N. Central ............... 8.31 7.89 8.02 7.88 8.04 7.82 8.00 7.90 8.27 7.98 8.17 8.05 8.02 7.94 8.12
W. N. Central .............. 7.44 7.79 8.43 7.29 7.41 7.91 8.54 7.47 7.68 8.07 8.71 7.60 7.75 7.85 8.03
S. Atlantic .................... 7.72 7.38 8.07 7.54 7.59 7.41 8.11 7.68 7.88 7.52 8.25 7.79 7.68 7.70 7.87
E. S. Central ............... 6.98 6.67 6.91 6.73 6.74 6.60 6.89 6.82 6.98 6.71 7.01 6.93 6.82 6.76 6.91
W. S. Central .............. 6.56 5.94 7.27 6.16 5.91 5.70 6.49 6.24 6.11 5.58 6.55 6.25 6.50 6.10 6.13
Mountain ..................... 7.65 7.64 8.45 7.36 7.27 7.77 8.39 7.40 7.52 7.82 8.51 7.53 7.80 7.74 7.87
Pacific ......................... 11.80 12.47 14.83 13.18 12.14 13.27 15.27 13.69 12.91 13.67 16.05 14.36 13.15 13.67 14.33
U.S. Average ........... 8.06 7.74 8.55 7.83 7.73 7.69 8.34 7.90 7.97 7.74 8.49 8.02 8.05 7.93 8.07
All Sectors (a)
New England .............. 24.39 22.26 22.01 22.28 23.59 21.41 21.16 21.86 23.84 22.37 22.62 23.54 22.73 21.99 23.09
Middle Atlantic ............. 15.39 14.75 16.16 15.25 15.09 14.72 16.30 15.36 15.37 15.02 16.72 15.70 15.43 15.42 15.76
E. N. Central ............... 12.20 11.97 12.08 11.86 11.98 11.79 12.00 11.88 12.16 12.03 12.33 12.22 12.03 11.92 12.19
W. N. Central .............. 9.89 10.60 11.47 9.90 9.91 10.55 11.39 9.89 10.00 10.74 11.64 10.10 10.49 10.47 10.65
S. Atlantic .................... 12.03 11.90 12.20 11.95 11.81 11.51 11.76 11.57 11.63 11.58 12.03 11.87 12.03 11.67 11.79
E. S. Central ............... 11.04 10.66 11.00 10.74 11.00 10.78 11.19 10.97 11.34 11.12 11.52 11.26 10.87 11.00 11.32
W. S. Central .............. 9.80 9.24 10.40 9.40 9.45 9.15 10.23 9.58 9.72 9.46 10.63 9.76 9.76 9.65 9.94
Mountain ..................... 10.52 11.01 11.79 10.72 10.58 10.99 11.54 10.59 10.61 11.10 11.79 10.81 11.07 10.97 11.13
Pacific ......................... 17.49 18.63 21.48 18.76 18.15 19.11 21.91 19.04 18.59 19.80 22.65 19.69 19.15 19.63 20.27
U.S. Average ........... 12.66 12.41 13.20 12.50 12.50 12.28 13.08 12.47 12.62 12.53 13.46 12.80 12.72 12.61 12.88
Historical data for average price of electricity to ultimate consumers represents the cost per unit of electricity sold and is calculated by dividing
electric revenue from ultimate consumers by the corresponding sales of electricity.
Regions refer to U.S. Census divisions (https://www.eia.gov/tools/glossary/index.php?id=C#census_division).
(a) Average price to all sectors is weighted by sales of electricity to ultimate customers in the residential, commercial, industrial and transportation (not shown) sectors.
Table 7d part 1. U.S. Regional Electricity Generation, Electric Power Sector (billion kilowatthours), continues on Table 7d part 2
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
United States
Natural Gas ..................................... 367.6 395.1 537.6 394.9 391.2 399.2 539.7 395.0 377.6 390.6 523.5 392.0 1,695.3 1,724.9 1,683.6
Coal ................................................. 156.7 140.6 216.1 157.3 152.8 127.5 198.2 139.0 140.9 119.2 199.2 127.5 670.7 617.5 586.9
Nuclear ............................................ 194.5 183.1 205.2 192.6 197.1 193.0 208.3 192.6 198.4 192.9 208.8 196.5 775.3 791.0 796.6
Renewable Energy Sources: .......... 225.8 224.8 204.8 209.4 237.5 262.8 236.0 232.2 257.5 286.0 258.5 247.1 864.7 968.5 1,049.2
Conventional Hydropower 60.8 64.1 58.5 55.2 63.9 72.0 60.9 57.0 67.1 76.7 63.6 58.7 238.7 253.7 266.0
Wind ............................................. 125.9 102.6 84.6 111.8 125.1 111.1 91.0 119.5 128.8 114.3 93.3 123.5 425.0 446.7 459.9
Solar (a) ...................................... 29.2 49.0 52.0 33.3 38.9 70.9 74.3 46.3 52.4 87.0 91.8 55.8 163.5 230.4 287.0
Biomass ....................................... 5.6 5.1 5.7 4.7 5.6 5.3 5.9 5.2 5.5 5.2 5.8 5.1 21.1 22.0 21.6
Geothermal .................................. 4.2 4.0 4.0 4.2 4.0 3.5 3.9 4.2 3.6 2.9 4.0 4.1 16.5 15.6 14.7
Pumped Storage Hydropower ........ -1.6 -1.3 -1.8 -1.2 -1.3 -1.3 -1.6 -1.1 -1.4 -1.3 -1.7 -1.2 -5.9 -5.4 -5.6
Petroleum (b) ................................. 3.9 3.5 4.7 3.5 4.8 3.5 4.4 4.6 4.7 3.4 4.2 4.6 15.6 17.3 16.9
Other Gases ................................... 0.8 0.7 0.9 0.8 0.8 0.8 0.9 0.8 0.8 0.8 0.9 0.8 3.2 3.3 3.3
Other Nonrenewable Fuels (c) ....... 0.9 0.9 0.8 0.8 0.8 0.3 0.7 0.5 0.1 0.2 0.0 0.0 3.4 2.3 0.3
Total Generation ............................. 948.6 947.4 1,168.3 958.1 983.6 985.8 1,186.6 963.5 978.5 991.7 1,193.4 967.4 4,022.3 4,119.4 4,131.1
New England (ISO-NE)
Natural Gas ..................................... 11.5 12.3 15.8 12.5 12.3 11.7 18.1 12.8 11.2 11.6 17.6 11.0 52.2 55.0 51.4
Coal ................................................. 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.0 0.2 0.1 0.2 0.3 0.4
Nuclear ............................................ 7.1 3.4 6.9 5.8 7.1 7.1 7.2 5.6 7.0 6.1 7.2 7.2 23.2 27.0 27.5
Conventional hydropower ............... 1.9 1.4 1.6 1.8 2.1 2.2 1.2 1.7 2.0 2.2 1.2 1.7 6.7 7.2 7.1
Nonhydro renewables (d) .............. 2.6 2.8 2.6 2.4 2.4 2.7 3.0 3.3 4.1 3.8 3.6 3.9 10.4 11.4 15.4
Other energy sources (e) .............. 0.3 0.2 0.2 0.3 0.4 0.3 0.2 0.4 0.7 0.2 0.2 0.4 1.0 1.2 1.5
Total generation .............................. 23.6 20.2 27.2 22.8 24.5 24.0 29.9 23.8 25.1 23.9 30.1 24.3 93.7 102.2 103.4
Net energy for load (f) .................... 29.0 25.6 32.2 27.9 30.0 27.9 34.6 29.2 30.7 28.3 34.9 29.4 114.7 121.8 123.3
New York (NYISO)
Natural Gas ..................................... 13.5 14.2 21.1 15.6 15.4 14.1 21.4 14.8 14.0 14.2 21.4 14.1 64.4 65.7 63.7
Coal ................................................. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Nuclear ............................................ 6.8 6.6 6.9 7.2 6.5 7.1 7.0 6.5 6.7 7.0 7.2 7.2 27.5 27.1 28.0
Mid-Atlantic (PJM)
Natural Gas ..................................... 85.1 81.5 112.3 85.4 91.1 86.4 113.9 87.2 94.0 85.1 110.4 87.5 364.3 378.6 377.0
Coal ................................................. 28.3 22.9 36.2 25.7 28.9 18.7 28.7 19.9 22.5 17.5 30.8 18.6 113.1 96.2 89.4
Nuclear ............................................ 67.6 65.7 70.6 68.8 68.9 65.7 71.7 68.3 67.4 66.3 71.3 68.0 272.6 274.6 272.9
Southeast (SERC)
Natural Gas ..................................... 63.7 65.7 82.4 62.6 63.2 71.1 87.5 67.3 62.2 69.9 88.2 64.7 274.4 289.1 284.9
Coal ................................................. 23.7 26.5 39.7 25.2 27.1 21.0 38.6 21.2 28.3 22.7 39.0 22.0 115.0 107.9 111.9
Nuclear ............................................ 51.7 52.9 57.4 57.4 55.5 56.8 59.6 54.9 56.5 58.8 60.6 57.5 219.3 226.9 233.5
Other energy sources (e) .............. -0.3 -0.2 -0.5 -0.4 -0.1 -0.2 -0.4 -0.2 -0.2 -0.3 -0.4 -0.1 -1.3 -0.9 -1.0
Florida (FRCC)
Natural Gas ..................................... 38.3 48.8 59.0 42.9 38.5 47.2 56.9 42.3 36.4 46.5 56.4 41.1 189.0 184.9 180.5
Coal ................................................. 2.7 2.6 3.9 2.5 1.6 1.6 2.5 1.2 1.2 1.4 2.4 0.9 11.7 6.9 5.9
Nuclear ............................................ 7.4 7.5 8.0 7.1 7.4 7.7 7.9 6.7 7.8 7.4 7.5 7.8 29.9 29.9 30.5
The electric power sector includes utility-scale generating power plants (total capacity is larger than 1 megawatt) operated by electric utilities
and independent power producers whose primary business is to sell electricity over the transmission grid for consumption by the public.
(a) Generation from utility-scale (larger than 1 megawatt) solar photovoltaic and solar thermal power plants. Excludes generation
from small-scale solar photovoltaic systems (see Table 7a).
(b) Residual fuel oil, distillate fuel oil, petroleum coke, and other petroleum liquids.
(c) Batteries, chemicals, hydrogen, pitch, purchased steam, sulfur, nonrenewable waste, and miscellaneous technologies.
(d) Wind, large-scale solar, biomass, and geothermal
(e) Pumped storage hydroelectric, petroleum, other gases, batteries, and other nonrenewable fuels. See notes (b) and (c).
(f) Includes regional generation from generating units operated by electric power sector, plus energy receipts from neighboring U.S. balancing
authorities outside region minus energy deliveries to neighboring balancing authorities.
Table 7d part 2. U.S. Regional Electricity Generation, Electric Power Sector (billion kilowatthours), continued from Table 7d part 1
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Midwest (MISO)
Natural Gas ................................... 45.4 54.7 67.3 47.8 49.9 55.7 75.7 49.6 53.1 59.2 74.4 54.9 215.2 230.9 241.6
Coal .............................................. 43.0 38.0 57.3 44.9 42.9 38.4 52.3 44.0 42.1 35.1 53.4 38.5 183.2 177.5 169.1
Nuclear ......................................... 23.4 21.1 24.3 18.4 20.9 21.9 24.2 23.1 22.5 20.9 24.2 22.0 87.2 90.2 89.6
Conventional hydropower .............. 2.2 2.0 1.9 2.0 2.4 2.8 2.3 2.2 2.5 2.9 2.4 2.2 8.0 9.7 10.0
Nonhydro renewables (d) ............. 30.3 26.5 19.4 29.8 31.1 27.3 21.3 31.5 35.9 32.2 24.8 34.5 106.0 111.2 127.4
Other energy sources (e) ............. 0.8 0.7 1.3 0.8 1.3 1.2 1.4 1.4 1.1 1.1 1.3 1.3 3.6 5.3 4.8
Total generation ............................ 145.1 142.9 171.5 143.6 148.4 147.3 177.3 151.8 157.1 151.4 180.5 153.3 603.2 624.8 642.3
Net energy for load (f) .................. 158.6 157.9 184.3 155.2 160.6 160.9 191.6 162.0 165.7 163.8 193.5 163.2 656.0 675.1 686.2
Central (Southwest Power Pool)
Natural Gas ................................... 15.8 21.6 30.5 18.3 19.3 23.5 30.5 17.2 17.2 21.5 29.3 16.9 86.1 90.4 84.8
Coal .............................................. 20.4 17.2 27.4 18.4 17.7 16.3 26.2 16.4 17.4 15.1 25.0 15.0 83.4 76.7 72.5
Nuclear ......................................... 4.3 4.3 4.3 4.4 4.3 3.1 4.3 3.5 4.2 4.3 4.2 3.1 17.2 15.2 15.9
Texas (ERCOT)
Natural Gas ................................... 36.5 49.6 70.1 42.7 42.3 46.3 61.8 42.2 39.5 42.0 58.2 41.2 198.9 192.6 180.9
Coal .............................................. 11.4 15.2 19.7 15.0 12.3 9.9 15.2 11.1 8.3 10.2 14.6 9.9 61.3 48.6 42.9
Nuclear ......................................... 10.5 9.0 10.9 10.3 10.1 10.1 10.6 9.3 10.8 10.0 10.7 10.2 40.7 40.1 41.7
Other energy sources (e) ............. 0.2 0.4 0.3 0.3 0.3 0.3 0.2 0.2 0.1 0.1 -0.1 -0.1 1.2 1.0 0.1
Northwest
Natural Gas ................................... 24.3 17.9 27.8 23.9 22.6 15.8 21.3 23.0 23.2 13.8 20.1 23.3 93.9 82.7 80.5
Coal .............................................. 20.2 14.4 23.6 20.2 15.8 15.0 26.1 18.3 13.8 10.8 26.1 16.6 78.4 75.3 67.4
Nuclear ......................................... 2.4 1.0 2.5 2.5 2.5 2.4 2.4 2.4 2.4 1.2 2.4 2.4 8.4 9.8 8.5
Southwest
Natural Gas ................................... 12.5 16.5 23.0 16.7 13.3 15.3 23.6 15.5 9.8 13.4 22.0 14.4 68.8 67.8 59.6
Coal .............................................. 5.5 3.1 6.5 4.3 5.6 5.1 6.1 5.2 5.9 5.0 6.3 5.7 19.4 22.1 22.9
Nuclear ......................................... 8.6 6.8 8.6 7.6 8.7 7.4 8.6 7.5 8.4 7.4 8.6 7.5 31.5 32.3 31.9
Other energy sources (e) ............. 0.0 0.1 0.0 0.0 0.0 0.0 0.0 -0.1 -0.1 0.0 0.0 -0.1 0.1 -0.1 -0.2
California
Natural Gas ................................... 20.2 11.5 27.2 25.6 22.3 11.4 28.2 22.5 16.3 12.7 24.8 22.3 84.6 84.3 76.2
Coal .............................................. 1.1 0.6 1.7 1.1 0.5 0.9 1.8 1.2 1.0 1.1 0.9 0.0 4.4 4.4 2.9
Nuclear ......................................... 4.7 4.9 4.9 3.2 5.0 3.6 4.7 4.7 4.6 3.7 4.7 3.6 17.7 18.0 16.7
Other energy sources (e) ............. -0.6 -0.2 0.0 -0.2 -0.3 -0.6 0.1 -0.2 -0.7 -0.4 -0.3 -0.5 -1.0 -1.0 -1.9
The electric power sector includes utility-scale generating power plants (total capacity is larger than 1 megawatt) operated by electric utilities
and independent power producers whose primary business is to sell electricity over the transmission grid for consumption by the public.
(a) Generation from utility-scale (larger than 1 megawatt) solar photovoltaic and solar thermal power plants. Excludes generation
from small-scale solar photovoltaic systems (see Table 7a).
(b) Residual fuel oil, distillate fuel oil, petroleum coke, and other petroleum liquids.
(c) Batteries, chemicals, hydrogen, pitch, purchased steam, sulfur, nonrenewable waste, and miscellaneous technologies.
(d) Wind, large-scale solar, biomass, and geothermal
(e) Pumped storage hydroelectric, petroleum, other gases, batteries, and other nonrenewable fuels. See notes (b) and (c).
(f) Includes regional generation from generating units operated by electric power sector, plus energy receipts from neighboring U.S. balancing
authorities outside region minus energy deliveries to neighboring balancing authorities.
Table 7e. U.S. Electric Generating Capacity (gigawatts at end of period)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Electric power sector (power plants larger than one megawatt)
Fossil fuel energy sources
Natural gas ...................................... 488.0 489.5 489.9 490.7 490.1 488.4 489.5 490.2 490.1 492.6 493.5 493.5 490.7 490.2 493.5
Coal ................................................. 184.4 180.8 178.7 177.5 176.1 175.4 175.4 175.0 175.0 171.3 169.5 162.9 177.5 175.0 162.9
Petroleum ........................................ 27.8 27.6 27.6 27.6 27.6 27.3 27.3 27.2 27.2 27.0 27.0 26.8 27.6 27.2 26.8
Other gases ..................................... 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.3
Renewable energy sources
Wind ................................................ 143.0 144.4 144.6 147.6 150.5 151.9 152.0 154.5 155.2 155.8 156.3 160.1 147.6 154.5 160.1
Solar photovoltaic ............................ 73.2 76.7 80.4 90.0 100.3 111.4 116.3 126.5 132.7 139.9 144.0 158.1 90.0 126.5 158.1
Solar thermal ................................... 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5
Geothermal ...................................... 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7
Waste biomass ................................ 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9
Wood biomass ................................ 2.4 2.4 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3
Conventional hydroelectric .............. 79.7 79.7 79.7 79.7 79.5 79.5 79.6 79.6 79.6 79.6 79.6 79.7 79.7 79.6 79.7
Pumped storage hydroelectric ............. 23.1 23.1 23.1 23.1 23.1 23.2 23.2 23.2 23.2 23.2 23.2 23.2 23.1 23.2 23.2
Nuclear ................................................ 94.7 94.7 95.8 95.8 95.8 96.9 96.9 96.9 96.9 96.9 96.9 96.9 95.8 96.9 96.9
Battery storage .................................... 9.5 10.9 13.5 15.7 19.5 24.4 26.3 30.9 32.6 35.8 37.3 41.3 15.7 30.9 41.3
Other nonrenewable sources (a) ......... 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Industrial and commercial sectors (combined heat and power plants larger than one megawatt)
Fossil fuel energy sources
Natural gas ...................................... 18.8 18.8 18.8 18.7 18.7 18.7 18.5 18.5 18.5 18.5 18.5 18.5 18.7 18.5 18.5
Coal ................................................. 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4
Petroleum ........................................ 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5
Other gases ..................................... 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4
Renewable energy sources
Wood biomass ................................ 5.4 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3 5.3
Waste biomass ................................ 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4
Solar ................................................ 0.6 0.6 0.6 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8
Wind ................................................ 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Geothermal ...................................... 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Conventional hydroelectric .............. 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Battery storage .................................... 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Other nonrenewable sources (a) ......... 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3
Small-scale solar photovoltaic capacity (systems smaller than one megawatt)
Residential sector ............................... 27.8 29.6 31.4 32.9 33.9 35.1 36.4 37.7 39.0 40.3 41.7 43.1 32.9 37.7 43.1
Commercial sector ............................. 11.5 11.8 12.0 12.3 12.7 13.1 13.6 14.0 14.5 15.0 15.5 16.0 12.3 14.0 16.0
Industrial sector .................................. 2.4 2.5 2.5 2.6 2.6 2.7 2.7 2.8 2.8 2.9 3.0 3.0 2.6 2.8 3.0
All sectors total ................................ 41.7 43.8 45.9 47.7 49.2 51.0 52.7 54.5 56.4 58.2 60.1 62.1 47.7 54.5 62.1
Notes:
EIA completed modeling and analysis for this report on April 4, 2024.
Capacity values represent the amount of generating capacity that is operating (or expected to be operating) at the end of each period.
Changes in capacity reflect various factors including new generators coming online, retiring generators, capacity uprates and derates,
delayed planned capacity projects, cancelled projects, and other factors.
(a) Other sources include hydrogen, pitch, chemicals, sulfur, purchased steam, nonrenewable waste, and miscellaneous technologies.
Data sources:
- Utility-scale capacity (power plants larger than one megawatt): EIA-860M Preliminary Monthly Electric Generator Inventory, January 2024.
- Small-scale solar capacity (systems smaller than one megawatt): Form EIA-861M Monthly Electric Power Industry Report.
Historical capacity data may differ from other EIA publications due to frequent updates to the Preliminary Monthly Electric Generator Inventory.
Table 8. U.S. Renewable Energy Consumption (Quadrillion Btu)
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Electric Power Sector
Geothermal ........................................................... 0.014 0.014 0.014 0.014 0.014 0.012 0.013 0.014 0.012 0.010 0.014 0.014 0.056 0.053 0.050
Hydroelectric Power (a) ......................................... 0.208 0.219 0.200 0.188 0.216 0.246 0.208 0.194 0.229 0.262 0.217 0.200 0.814 0.864 0.908
Solar (b) ................................................................. 0.100 0.167 0.177 0.114 0.133 0.242 0.254 0.158 0.179 0.297 0.313 0.190 0.558 0.786 0.979
Waste Biomass (c) ................................................. 0.043 0.041 0.042 0.041 0.042 0.041 0.041 0.041 0.041 0.039 0.040 0.040 0.167 0.164 0.161
Wood Biomass ...................................................... 0.044 0.040 0.045 0.033 0.046 0.042 0.051 0.041 0.046 0.042 0.051 0.039 0.162 0.180 0.178
Wind ...................................................................... 0.430 0.350 0.289 0.382 0.427 0.379 0.310 0.408 0.440 0.390 0.318 0.421 1.450 1.524 1.569
Subtotal ............................................................... 0.838 0.830 0.766 0.773 0.877 0.961 0.878 0.856 0.946 1.039 0.954 0.905 3.207 3.572 3.845
Industrial Sector
Biofuel Losses and Co-products (d) ....................... 0.199 0.202 0.206 0.214 0.207 0.205 0.208 0.211 0.205 0.208 0.208 0.212 0.821 0.832 0.835
Geothermal ........................................................... 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.004 0.004 0.004
Solar (b) .................................................................. 0.003 0.005 0.005 0.003 0.003 0.005 0.005 0.004 0.004 0.005 0.005 0.004 0.016 0.017 0.019
Waste Biomass (c) ................................................. 0.041 0.040 0.037 0.042 0.040 0.039 0.038 0.041 0.040 0.039 0.039 0.041 0.160 0.159 0.159
Wood Biomass ...................................................... 0.318 0.300 0.299 0.307 0.314 0.326 0.342 0.346 0.336 0.333 0.345 0.347 1.224 1.327 1.361
Subtotal (e) .......................................................... 0.568 0.553 0.554 0.573 0.571 0.582 0.601 0.608 0.591 0.593 0.604 0.612 2.249 2.363 2.401
Commercial Sector
Geothermal ........................................................... 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.020 0.020 0.020
Solar (b) ................................................................ 0.014 0.021 0.021 0.014 0.016 0.023 0.023 0.016 0.018 0.027 0.027 0.018 0.069 0.078 0.090
Waste Biomass (c) ................................................. 0.017 0.017 0.018 0.018 0.017 0.017 0.018 0.018 0.017 0.017 0.018 0.018 0.071 0.071 0.071
Wood Biomass ...................................................... 0.020 0.020 0.021 0.021 0.020 0.020 0.021 0.021 0.020 0.020 0.021 0.021 0.082 0.082 0.082
Subtotal (e) .......................................................... 0.064 0.071 0.073 0.066 0.066 0.074 0.076 0.068 0.068 0.077 0.079 0.071 0.274 0.283 0.295
Residential Sector
Geothermal ........................................................... 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.040 0.040 0.040
Solar (f) ................................................................... 0.046 0.069 0.070 0.050 0.053 0.079 0.078 0.054 0.058 0.087 0.086 0.059 0.235 0.264 0.290
Wood Biomass ...................................................... 0.111 0.112 0.114 0.114 0.111 0.112 0.114 0.114 0.111 0.112 0.114 0.114 0.450 0.450 0.450
Subtotal ............................................................... 0.166 0.191 0.193 0.174 0.174 0.201 0.202 0.177 0.179 0.209 0.210 0.183 0.725 0.754 0.780
Transportation Sector
Biodiesel, Renewable Diesel, and Other (g) .......... 0.140 0.173 0.175 0.172 0.169 0.185 0.188 0.202 0.201 0.219 0.225 0.235 0.660 0.744 0.880
Ethanol (g) .............................................................. 0.268 0.284 0.286 0.286 0.270 0.285 0.290 0.285 0.268 0.287 0.288 0.286 1.125 1.131 1.128
Subtotal ............................................................... 0.408 0.457 0.462 0.458 0.439 0.471 0.478 0.487 0.469 0.506 0.513 0.520 1.785 1.875 2.008
All Sectors Total
Biodiesel, Renewable Diesel, and Other (g) .......... 0.140 0.173 0.175 0.172 0.169 0.185 0.188 0.202 0.201 0.219 0.225 0.235 0.660 0.744 0.880
Biofuel Losses and Co-products (d) ....................... 0.199 0.202 0.206 0.214 0.207 0.205 0.208 0.211 0.205 0.208 0.208 0.212 0.821 0.832 0.835
Ethanol (f) ............................................................... 0.281 0.298 0.299 0.300 0.283 0.299 0.303 0.298 0.280 0.300 0.301 0.299 1.177 1.183 1.180
Geothermal ........................................................... 0.030 0.029 0.030 0.030 0.030 0.028 0.029 0.030 0.028 0.026 0.030 0.030 0.120 0.117 0.114
Solar (b)(f) ............................................................. 0.162 0.262 0.272 0.181 0.205 0.349 0.360 0.231 0.259 0.415 0.432 0.272 0.878 1.146 1.378
Waste Biomass (c) ................................................. 0.102 0.098 0.097 0.101 0.100 0.097 0.098 0.100 0.097 0.096 0.097 0.100 0.398 0.395 0.390
Wood Biomass ...................................................... 0.493 0.472 0.478 0.475 0.491 0.500 0.528 0.521 0.513 0.507 0.530 0.521 1.918 2.040 2.071
Wind ...................................................................... 0.430 0.350 0.289 0.382 0.427 0.379 0.310 0.408 0.440 0.390 0.318 0.421 1.450 1.524 1.569
Total Consumption .................................................. 2.045 2.104 2.048 2.044 2.127 2.289 2.233 2.198 2.253 2.425 2.359 2.291 8.241 8.847 9.329
(a) Solar
(b) Energy consumption
energy for conventional
consumption hydroelectric
by utility-scale power
power plants only. Hydroelectricity
(capacity greater than or generated by pumpedinstorage
equal to 1 megawatt) is notpower,
the electric included in renewable
commercial, andenergy.
industrial sectors
and energy consumption by small-scale solar photovoltaic systems (less than 1 megawatts in size).
(c) Municipal solid waste from biogenic sources, landfill gas, sludge waste, agricultural byproducts, and other biomass.
(d) Losses and co-products from the production of fuel ethanol and biomass-based diesel
(e) Subtotals for the industrial and commercial sectors might not equal the sum of the components. The subtotal for the industrial sector includes ethanol consumption
that is not shown separately. The subtotal for the commercial sector includes ethanol and hydroelectric consumption that are not shown separately.
(f) Solar
(g) consumption
Fuel ethanol in the residential
and biodiesel, renewablesector includes
diesel, energy
and other from small-scale
biofuels consumptionsolar photovoltaic
in the systems
transportation sector(<1 megawatt),
includes and it includes
production, solar heating
stock change, consumption
and imports in all sectors.
less exports.
Some biomass-based diesel may be consumed in the residential sector in heating oil.
Historical data: Latest data available from EIA databases supporting the following reports: Electric Power Monthly, Electric Power Annual,
Table 9a. U.S. Macroeconomic Indicators and CO2 Emissions
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Macroeconomic
Real Gross Domestic Product
(billion chained 2017 dollars - SAAR) ............................ 22,112 22,225 22,491 22,669 22,780 22,886 22,996 23,089 23,161 23,240 23,329 23,429 22,374 22,938 23,290
Real Personal Consumption Expend.
Real Private Fixed Investment
Business Inventory Change
(billion chained 2017 dollars - SAAR) ............................ 24 19 102 85 94 92 110 111 107 98 96 93 57 102 98
Real Government Expenditures
Real Exports of Goods & Services
Real Imports of Goods & Services
Real Disposable Personal Income
Non-Farm Employment
(millions) ......................................................................... 155.0 155.8 156.4 157.1 157.8 158.2 158.5 158.6 158.6 158.7 158.7 158.7 156.1 158.3 158.7
Civilian Unemployment Rate
(percent) ......................................................................... 3.5 3.6 3.7 3.7 3.8 3.8 3.8 3.8 3.9 4.0 4.1 4.2 3.6 3.8 4.0
Housing Starts
(millions - SAAR) ............................................................. 1.39 1.45 1.37 1.48 1.43 1.44 1.39 1.36 1.34 1.32 1.31 1.30 1.42 1.41 1.32
Industrial Production Indices (Index, 2017=100)

Total Industrial Production ................................................ 102.6 102.8 103.2 102.7 102.4 102.8 102.9 103.0 103.1 103.2 103.5 103.8 102.8 102.8 103.4
Manufacturing ................................................................. 99.9 100.2 100.0 99.8 99.5 99.9 100.4 100.8 100.9 101.0 101.3 101.7 100.0 100.2 101.2
Food ............................................................................ 105.1 103.6 101.6 102.4 101.9 102.8 103.4 103.8 104.3 104.7 105.2 105.7 103.2 103.0 104.9
Paper .......................................................................... 87.8 86.6 86.7 88.0 86.6 86.4 86.9 87.3 87.5 87.7 87.8 88.1 87.3 86.8 87.8
Petroleum and Coal Products ..................................... 88.5 89.9 91.3 92.9 90.8 93.5 93.9 93.7 93.4 93.1 92.8 92.7 90.7 93.0 93.0
Chemicals .................................................................... 103.2 103.8 103.5 103.0 102.9 103.4 104.5 105.2 105.9 106.6 107.2 108.0 103.4 104.0 106.9
Nonmetallic Mineral Products .................................... 111.4 108.6 107.4 107.4 104.6 106.9 107.7 108.4 109.2 110.1 110.8 111.6 108.7 106.9 110.4
Primary Metals ............................................................. 92.7 95.7 94.8 93.8 92.9 94.7 97.0 98.1 98.4 99.1 99.8 101.2 94.3 95.7 99.6
Coal-weighted Manufacturing (a) ................................... 95.7 96.2 96.0 96.0 94.6 96.3 97.6 98.1 98.4 98.9 99.2 99.9 96.0 96.6 99.1
Distillate-weighted Manufacturing (a) ............................ 99.3 99.1 98.7 98.9 97.8 99.3 100.1 100.6 101.0 101.4 101.8 102.4 99.0 99.4 101.7
Electricity-weighted Manufacturing (a) ........................... 96.4 96.8 96.9 96.8 96.2 97.5 98.6 99.2 99.5 100.0 100.4 101.1 96.7 97.9 100.3
Natural Gas-weighted Manufacturing (a) ....................... 94.0 94.1 94.5 94.6 93.8 95.1 96.2 96.6 96.8 97.1 97.3 97.9 94.3 95.4 97.3
Price Indexes
Consumer Price Index (all urban consumers)
(index, 1982-1984=1.00) ................................................. 3.01 3.03 3.06 3.08 3.11 3.12 3.14 3.16 3.17 3.19 3.20 3.22 3.05 3.13 3.19
Producer Price Index: All Commodities
(index, 1982=1.00) .......................................................... 2.59 2.54 2.57 2.55 2.51 2.48 2.48 2.50 2.51 2.50 2.50 2.51 2.56 2.49 2.50
Producer Price Index: Petroleum
(index, 1982=1.00) .......................................................... 3.09 2.91 3.17 2.82 2.59 2.81 2.88 2.77 2.74 2.79 2.83 2.70 3.00 2.76 2.76
GDP Implicit Price Deflator
(index, 2017=100) ........................................................... 121.3 121.8 122.8 123.3 124.1 124.7 125.3 126.1 127.0 127.7 128.4 129.2 122.3 125.1 128.1
Miscellaneous
Vehicle Miles Traveled (b)
(million miles/day) ............................................................ 8,427 9,159 9,335 8,837 8,481 9,367 9,523 8,887 8,598 9,442 9,578 8,933 8,942 9,065 9,140
Raw Steel Production
(million short tons per day) .............................................. 0.236 0.244 0.245 0.242 0.244 0.255 0.263 0.258 0.259 0.271 0.274 0.269 0.242 0.255 0.269
Carbon Dioxide (CO2) Emissions (million metric tons)

Petroleum .......................................................................... 550 565 572 573 560 572 574 571 556 568 571 569 2,259 2,277 2,263
Natural Gas ....................................................................... 501 383 416 456 511 385 419 460 509 379 411 458 1,756 1,775 1,757
Coal ................................................................................... 187 168 241 186 165 156 225 172 171 149 226 161 781 718 707
Total Energy (c) ................................................................. 1,240 1,118 1,232 1,217 1,239 1,116 1,221 1,205 1,239 1,098 1,211 1,190 4,807 4,781 4,738
(a) Fuel share weights of individual sector indices based on EIA Manufacturing Energy Consumption Survey .
(b) Total highway travel includes gasoline and diesel fuel vehicles.
(c) Includes electric power sector use of geothermal energy and non-biomass waste.
SAAR = Seasonally-adjusted annual rate
Historical data: Latest data available from U.S. Department of Commerce, Bureau of Economic Analysis; Federal Reserve System, Statistical release G17; Federal Highway Administration; and Federal
Aviation Administration.
Forecasts: EIA Short-Term Integrated Forecasting System. U.S. macroeconomic forecasts are based on the S&P Global model of the U.S. Economy.
Table 9b. U.S. Regional Macroeconomic Data
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Real Gross State Product (Billion $2017)
New England ................ 1,148 1,153 1,166 1,173 1,178 1,182 1,186 1,190 1,193 1,197 1,200 1,204 1,160 1,184 1,198
Middle Atlantic .............. 3,192 3,202 3,235 3,258 3,274 3,286 3,299 3,311 3,319 3,328 3,338 3,350 3,222 3,293 3,334
E. N. Central ................ 2,832 2,841 2,870 2,888 2,902 2,916 2,929 2,938 2,940 2,947 2,955 2,965 2,858 2,921 2,952
W. N. Central ............... 1,353 1,360 1,377 1,391 1,398 1,404 1,410 1,415 1,419 1,423 1,428 1,433 1,370 1,407 1,426
S. Atlantic ..................... 4,092 4,107 4,154 4,190 4,211 4,233 4,255 4,274 4,290 4,306 4,324 4,345 4,135 4,243 4,316
E. S. Central ................ 998 1,000 1,011 1,015 1,019 1,023 1,027 1,031 1,033 1,035 1,038 1,042 1,006 1,025 1,037
W. S. Central ............... 2,563 2,590 2,634 2,665 2,681 2,695 2,712 2,727 2,741 2,754 2,768 2,783 2,613 2,704 2,761
Mountain ...................... 1,527 1,535 1,556 1,570 1,577 1,584 1,592 1,599 1,605 1,612 1,619 1,627 1,547 1,588 1,616
Pacific .......................... 4,249 4,277 4,327 4,358 4,378 4,398 4,420 4,439 4,456 4,472 4,491 4,511 4,303 4,409 4,482
Industrial Output, Manufacturing (Index, Year 2017=100)
New England ................ 96.1 96.2 95.8 95.6 95.3 95.7 96.2 96.5 96.7 96.8 97.0 97.4 95.9 95.9 97.0
Middle Atlantic .............. 95.1 95.2 95.0 94.5 94.1 94.4 94.8 95.1 95.3 95.4 95.5 95.9 94.9 94.6 95.5
E. N. Central ................ 96.2 96.4 96.1 95.7 95.5 96.1 96.8 97.1 97.0 97.1 97.3 97.6 96.1 96.4 97.3
W. N. Central ............... 101.4 101.8 101.1 100.9 100.7 101.1 101.6 101.9 102.0 102.1 102.3 102.7 101.3 101.3 102.3
S. Atlantic ..................... 102.1 102.4 102.3 101.9 101.6 102.1 102.6 103.1 103.3 103.5 103.8 104.3 102.2 102.4 103.8
E. S. Central ................ 100.3 101.0 101.0 100.2 99.7 100.1 100.7 101.1 101.0 100.9 101.0 101.3 100.6 100.4 101.1
W. S. Central ............... 104.1 104.7 105.8 106.0 105.8 106.4 107.1 107.7 108.0 108.2 108.5 109.0 105.1 106.7 108.4
Mountain ...................... 111.6 111.8 111.6 111.9 111.3 111.7 112.2 112.6 112.7 112.9 113.2 113.7 111.7 111.9 113.1
Pacific .......................... 97.3 97.2 96.7 96.6 96.1 96.3 96.7 97.0 97.1 97.1 97.3 97.7 96.9 96.5 97.3
Real Personal Income (Billion $2017)
New England ................ 953 955 961 967 977 984 992 1,000 1,008 1,015 1,022 1,028 959 988 1,018
Middle Atlantic .............. 2,517 2,530 2,538 2,547 2,574 2,588 2,605 2,623 2,642 2,660 2,675 2,689 2,533 2,597 2,667
E. N. Central ................ 2,615 2,624 2,629 2,637 2,663 2,678 2,697 2,714 2,733 2,750 2,765 2,780 2,626 2,688 2,757
W. N. Central ............... 1,294 1,295 1,296 1,297 1,306 1,311 1,319 1,328 1,339 1,348 1,356 1,365 1,296 1,316 1,352
S. Atlantic ..................... 3,712 3,728 3,741 3,767 3,811 3,839 3,871 3,903 3,939 3,971 4,000 4,028 3,737 3,856 3,984
E. S. Central ................ 1,010 1,011 1,015 1,019 1,029 1,035 1,042 1,048 1,055 1,061 1,067 1,073 1,014 1,038 1,064
W. S. Central ............... 2,318 2,312 2,324 2,341 2,368 2,385 2,406 2,427 2,449 2,469 2,488 2,506 2,324 2,397 2,478
Mountain ...................... 1,426 1,438 1,445 1,453 1,466 1,475 1,485 1,496 1,507 1,519 1,528 1,538 1,441 1,480 1,523
Pacific .......................... 3,089 3,112 3,116 3,131 3,166 3,187 3,211 3,235 3,262 3,285 3,308 3,329 3,112 3,200 3,296
Households (Thousands)
New England ................ 6,088 6,103 6,118 6,126 6,131 6,143 6,157 6,168 6,179 6,189 6,199 6,209 6,126 6,168 6,209
Middle Atlantic .............. 16,074 16,101 16,127 16,143 16,148 16,167 16,191 16,212 16,233 16,252 16,270 16,288 16,143 16,212 16,288
E. N. Central ................ 19,005 19,040 19,080 19,109 19,125 19,154 19,188 19,218 19,247 19,276 19,303 19,328 19,109 19,218 19,328
W. N. Central ............... 8,702 8,729 8,755 8,775 8,790 8,808 8,829 8,850 8,870 8,889 8,907 8,925 8,775 8,850 8,925
S. Atlantic ..................... 27,263 27,363 27,465 27,550 27,623 27,714 27,811 27,897 27,976 28,052 28,123 28,197 27,550 27,897 28,197
E. S. Central ................ 7,902 7,933 7,963 7,988 8,008 8,031 8,055 8,077 8,098 8,117 8,136 8,156 7,988 8,077 8,156
W. S. Central ............... 15,960 16,022 16,090 16,146 16,188 16,240 16,302 16,359 16,414 16,470 16,522 16,574 16,146 16,359 16,574
Mountain ...................... 9,791 9,820 9,852 9,879 9,900 9,929 9,961 9,994 10,027 10,062 10,095 10,130 9,879 9,994 10,130
Pacific .......................... 18,984 19,002 19,028 19,043 19,044 19,062 19,090 19,112 19,135 19,158 19,182 19,206 19,043 19,112 19,206
Total Non-farm Employment (Millions)
New England ................ 7.6 7.6 7.6 7.7 7.7 7.7 7.7 7.7 7.7 7.7 7.7 7.7 7.6 7.7 7.7
Middle Atlantic .............. 20.1 20.1 20.2 20.3 20.4 20.4 20.4 20.4 20.4 20.4 20.4 20.4 20.2 20.4 20.4
E. N. Central ................ 22.3 22.4 22.5 22.6 22.7 22.7 22.8 22.8 22.7 22.7 22.7 22.7 22.5 22.7 22.7
W. N. Central ............... 10.9 10.9 11.0 11.0 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.0 11.1 11.1
S. Atlantic ..................... 30.5 30.7 30.8 31.0 31.2 31.3 31.3 31.4 31.4 31.5 31.5 31.5 30.8 31.3 31.5
E. S. Central ................ 8.6 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7
W. S. Central ............... 18.8 19.0 19.1 19.2 19.3 19.4 19.4 19.4 19.5 19.5 19.5 19.5 19.0 19.4 19.5
Mountain ...................... 11.8 11.9 11.9 12.0 12.0 12.1 12.1 12.1 12.1 12.1 12.2 12.2 11.9 12.1 12.2
Pacific .......................... 24.5 24.7 24.7 24.8 24.9 25.0 25.0 25.0 25.0 25.0 25.0 25.0 24.7 25.0 25.0
Regions refer to U.S. Census divisions.
See "Census division" in EIA’s Energy Glossary (http://www.eia.doe.gov/glossary/index.html) for a list of States in each region.
Historical data: Latest data available from U.S. Department of Commerce, Bureau of Economic Analysis; Federal Reserve System, Statistical release G17.
Forecasts: U.S. macroeconomic forecasts are based on the IHS Markit model of the U.S. Economy.
Table 9c. U.S. Regional Weather Data
2023 2024 2025 Year
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Heating Degree Days
New England ................ 2,707 813 89 1,923 2,791 862 131 2,036 2,943 818 130 2,028 5,532 5,820 5,920
Middle Atlantic .............. 2,454 656 72 1,780 2,571 693 86 1,865 2,722 654 86 1,858 4,962 5,215 5,320
E. N. Central ................. 2,728 701 96 1,902 2,675 708 121 2,135 3,002 701 120 2,130 5,426 5,639 5,954
W. N. Central ................ 3,170 656 93 2,012 2,847 694 154 2,354 3,171 706 154 2,352 5,930 6,049 6,383
South Atlantic ............... 1,058 191 10 889 1,256 196 13 884 1,274 178 12 878 2,147 2,349 2,342
E. S. Central ................. 1,387 256 13 1,161 1,653 249 19 1,228 1,685 232 19 1,223 2,817 3,149 3,159
W. S. Central ................ 931 91 1 695 1,081 87 5 767 1,095 85 5 764 1,719 1,940 1,949
Mountain ....................... 2,561 726 126 1,661 2,255 716 154 1,842 2,167 710 154 1,839 5,075 4,966 4,870
Pacific ........................... 1,834 660 100 1,033 1,535 578 95 1,161 1,442 583 95 1,158 3,627 3,369 3,278
U.S. Average ............ 1,922 486 61 1,336 1,913 482 75 1,451 1,990 469 74 1,445 3,805 3,920 3,978
Heating Degree Days, Prior 10-year Average
New England ................ 3,151 859 106 2,093 3,110 855 98 2,056 3,033 853 97 2,051 6,209 6,119 6,034
Middle Atlantic .............. 2,939 689 69 1,907 2,890 685 63 1,879 2,804 684 62 1,869 5,604 5,517 5,420
E. N. Central ................. 3,215 741 93 2,169 3,159 735 91 2,113 3,033 733 86 2,090 6,218 6,098 5,942
W. N. Central ................ 3,319 754 121 2,374 3,295 729 120 2,303 3,193 724 118 2,287 6,568 6,447 6,321
South Atlantic ............... 1,403 190 10 905 1,357 188 9 895 1,311 188 9 880 2,508 2,449 2,388
E. S. Central ................. 1,811 251 14 1,231 1,756 248 14 1,206 1,694 250 14 1,187 3,307 3,224 3,145
W. S. Central ................ 1,188 95 3 762 1,164 90 3 731 1,124 90 3 723 2,048 1,987 1,939
Mountain ....................... 2,193 696 128 1,833 2,208 696 128 1,800 2,222 697 128 1,808 4,850 4,832 4,854
Pacific ........................... 1,444 523 75 1,148 1,472 539 77 1,129 1,499 550 81 1,146 3,191 3,217 3,276
U.S. Average ............ 2,133 485 60 1,477 2,103 483 59 1,444 2,049 483 58 1,435 4,155 4,088 4,025
Cooling Degree Days
New England ................ 0 54 472 5 0 98 505 1 0 99 510 1 531 604 610
Middle Atlantic .............. 0 90 577 10 0 181 650 5 0 183 656 5 677 836 844
E. N. Central ................. 0 180 521 10 0 245 595 7 1 245 598 7 711 846 851
W. N. Central ................ 1 319 708 14 5 297 730 11 5 297 733 11 1,042 1,042 1,046
South Atlantic ............... 203 587 1,239 242 118 696 1,280 257 139 714 1,288 259 2,271 2,351 2,399
E. S. Central ................. 64 444 1,099 72 15 546 1,123 68 34 545 1,128 68 1,678 1,751 1,775
W. S. Central ................ 150 901 1,866 215 102 930 1,641 212 105 936 1,648 213 3,132 2,885 2,903
Mountain ....................... 3 349 1,024 98 3 438 1,010 83 20 451 1,015 83 1,475 1,534 1,569
Pacific ........................... 26 106 609 79 20 194 697 77 28 200 703 78 820 988 1,008
U.S. Average ............ 68 363 941 105 42 438 959 105 51 445 966 106 1,476 1,543 1,568
Cooling Degree Days, Prior 10-year Average
New England ................ 0 87 480 2 0 83 483 2 0 85 499 2 569 568 587
Middle Atlantic .............. 0 160 617 8 0 154 622 9 0 156 644 8 785 784 808
E. N. Central ................. 1 234 561 10 1 231 566 10 1 232 588 10 805 808 831
W. N. Central ................ 4 292 674 12 4 301 680 12 5 304 699 12 982 997 1,020
South Atlantic ............... 144 675 1,192 272 153 674 1,212 271 154 679 1,234 277 2,283 2,310 2,345
E. S. Central ................. 36 520 1,058 83 41 519 1,077 85 42 524 1,097 85 1,697 1,721 1,748
W. S. Central ................ 101 861 1,549 223 109 873 1,584 228 115 888 1,604 227 2,734 2,793 2,834
Mountain ....................... 24 460 960 83 22 447 971 88 19 447 984 87 1,527 1,527 1,537
Pacific ........................... 32 213 676 86 32 201 677 89 30 198 677 85 1,006 999 991
U.S. Average ............ 50 415 895 109 53 414 909 111 54 419 927 112 1,470 1,488 1,512
Regional degree days for each period are calculated by EIA as contemporaneous period population-weighted averages of state degree day data published by the National
Oceanic
See and in
Change Atmospheric
Regional and Administration (NOAA).
U.S. Degree-Day Calculations (http://www.eia.gov/forecasts/steo/special/pdf/2012_sp_04.pdf) for more information.
Regions refer to U.S. Census divisions. See "Census division" in EIA’s Energy Glossary (http://www.eia.gov/tools/glossary/) for a list of states in each region.
Historical data: Latest data available from U.S. Department of Commerce, National Oceanic and Atmospheric Association (NOAA).
Forecasts: Current month based on forecasts by the NOAA Climate Prediction Center (http://www.cpc.ncep.noaa.gov/pacdir/DDdir/NHOME3.shtml). Remaining months based on
the 30-year trend.
Appendix to the April 2024 Short-Term Energy Outlook
This appendix is prepared in fulfillment of section 1245(d)(4)(A) of the National Defense Authorization Act (NDAA) for Fiscal
Year 2012, as amended. The law requires the U.S. Energy Information Administration (EIA), the statistical and analytical
agency within the U.S. Department of Energy, to submit to Congress a report on the availability and price of petroleum and
petroleum products produced in countries other than Iran in the two-month period preceding the submission of the
report. By law, EIA’s data, analyses, and forecasts are independent of approval by any other officer or employee of the U.S.
Government. The data in this appendix, therefore, should not be construed as representing those of the U.S. Department
of Energy or other federal agencies.
EIA consulted with the U.S. Department of the Treasury, the U.S. Department of State, and the intelligence community in
the process of developing the NDAA report, which was previously published as a stand-alone report. Detailed background
and contextual information not repeated here can be found in early editions of the NDAA report.
This appendix is published in the Short-Term Energy Outlook in even numbered months.
Table a1. Summary of Estimated Petroleum and Other Liquids Quantities

Feb 2024 – Mar Feb 2023 – Mar 2021 – 2023
Feb 2024 Mar 2024 2024 Average 2023 Average Average
Global Petroleum and Other Liquids (million barrels per day)

Global Petroleum and Other Liquids Production (a) 102.4 102.1 102.2 101.3 99.2
Global Petroleum and Other Liquids Consumption (b) 103.4 102.3 102.8 102.1 99.8
Biofuels Production (c) 2.4 2.3 2.4 2.3 2.8
Biofuels Consumption (c) 2.8 2.8 2.8 2.8 2.7
Iran Liquid Fuels Production 4.4 4.4 4.4 3.8 3.7
Iran Liquid Fuels Consumption 2.7 2.2 2.5 2.4 2.1
Petroleum and Petroleum Products Produced and Consumed in Countries Other Than Iran (million barrels per day)
Production (d) 95.6 95.4 95.5 95.2 96.4

Consumption (d) 97.9 97.3 97.6 97.0 95.0
Production minus Consumption -2.3 -2.0 -2.1 -1.8 1.4
World Inventory Net Withdrawals Including Iran 1.0 0.2 0.6 0.8 0.7
Estimated OECD Inventory Level (e) (million barrels) 2,748 2,735 2,741 2,773 2,778
Surplus Production Capacity (million barrels per day)
OPEC Surplus Crude Oil Production Capacity (f) 4.3 4.2 4.2 3.0 3.7
Note: The term “petroleum and other liquids” encompasses crude oil, lease condensate, natural gas liquids, biofuels, coal-to-liquids, gas-to-
liquids, and refinery processing gains, which are important to consider in concert due to the inter-related supply, demand, and price dynamics
of petroleum, petroleum products, and related fuels.
(a) Production includes crude oil (including lease condensates), natural gas liquids, other liquids, and refinery processing gains.
(b) Consumption of petroleum by the OECD countries is synonymous with “products supplied," defined in the glossary of the EIA Petroleum Supply Monthly,
DOE/EIA-0109. Consumption of petroleum by the non-OECD countries is "apparent consumption," which includes internal consumption, refinery fuel, and loss, and
bunkering.
(c) Biofuels production and consumption are based on EIA estimates as published in the International Energy Statistics. Biofuels production in the third quarter
tends to be at its highest level in the year as ethanol production in Brazil reaches its seasonal peak and is typically lowest in the first quarter as seasonal production
falls in the South/South-Central region of Brazil.
(d) Global production of petroleum and petroleum products outside of Iran is derived by subtracting biofuels production and Iran liquid fuels production from global
liquid fuels production. The same method is used to calculate global consumption outside of Iran.
(e) Estimated inventory level is for OECD countries only.
(f) EIA defines surplus oil production capacity as potential oil production that could be brought online within 30 days and sustained for at least 90 days, consistent
with sound business practices. This does not include oil production increases that could not be sustained without degrading the future production capacity of a
field.
Data source: U.S. Energy Information Administration.
Table a2. Crude Oil and Petroleum Product Price Data

Feb 2024 – Mar Feb 2023 – Mar 2021 – 2023
Feb 2024 Mar 2024 2024 Average 2023 Average Average
Item
Brent Front Month Futures Price ($ per barrel) 81.72 84.67 83.20 81.17 84.06
WTI Front Month Futures Price ($ per barrel) 76.61 80.41 78.51 74.95 80.01
Dubai Front Month Futures Price ($ per barrel) 81.01 84.25 82.63 80.00 82.59
Brent 1st - 13th Month Futures Spread ($ per barrel) 5.64 6.85 6.25 4.52 7.69
WTI 1st - 13th Month Futures Spread ($ per barrel) 5.18 7.04 6.11 3.18 7.73
RBOB Front Month Futures Price ($ per gallon) 2.29 2.66 2.48 2.54 2.53
Heating Oil Front Month Futures Price ($ per gallon) 2.77 2.67 2.72 2.78 2.81
RBOB - Brent Futures Crack Spread ($ per gallon) 0.35 0.65 0.50 0.60 0.53
Heating Oil - Brent Futures Crack Spread ($ per gallon) 0.83 0.66 0.74 0.84 0.81
(a) Brent refers to Brent crude oil traded on the Intercontinental Exchange (ICE).
(b) WTI refers to West Texas Intermediate crude oil traded on the New York Mercantile Exchange (NYMEX), owned by Chicago Mercantile Exchange (CME) Group.
(c) RBOB refers to reformulated blendstock for oxygenate blending traded on the NYMEX.
Data source: U.S. Energy Information Administration, based on Chicago Mercantile Exchange (CME), Intercontinental Exchange (ICE), and Dubai Mercantile Exchange
(DME).

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Short-Term

U.S. Energy Information Administration | Short-Term Energy Outlook 1

Short-Term Energy Outlook

Retail gasoline price (dollars per gallon) $3.50 $3.60 $3.60

U.S. Energy Information Administration | Short-Term Energy Outlook 2

Notable forecast changes

U.S. Energy Information Administration | Short-Term Energy Outlook 3

Global Oil Markets

Global oil prices and inventories

U.S. Energy Information Administration | Short-Term Energy Outlook 4

Global oil production

U.S. Energy Information Administration | Short-Term Energy Outlook 5

Gasoline inventories and net trade

U.S. Energy Information Administration | Short-Term Energy Outlook 6

U.S. Energy Information Administration | Short-Term Energy Outlook 7

U.S. Energy Information Administration | Short-Term Energy Outlook 8

Natural gas trade

U.S. Energy Information Administration | Short-Term Energy Outlook 9

Electricity, Coal, and Renewables

U.S. Energy Information Administration | Short-Term Energy Outlook 10

U.S. Energy Information Administration | Short-Term Energy Outlook 11

Economy, Weather, and CO2

U.S. Energy Information Administration | Short-Term Energy Outlook 12

U.S. Energy Information Administration | Short-Term Energy Outlook 13

U.S. Energy Information Administration | Short-Term Energy Outlook 14

U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov

Annual change in world liquid fuels consumption

U.S. commercial crude oil inventories

U.S. commercial propane inventories

U.S. net imports of crude oil and liquid fuels

Henry Hub natural gas price and NYMEX confidence intervals

U.S. natural gas prices

U.S. annual natural gas trade

U.S. electric power coal inventories

Crude Oil Production (a)

Dry Natural Gas Production

Total Energy Consumption (d)

Crude Oil West Texas Intermediate Spot

Natural Gas Henry Hub Spot

Real Gross Domestic Product

GDP Implicit Price Deflator

Real Disposable Personal Income

Manufacturing Production Index

Consumption (million barrels per day) (c)

Crude Oil Production Capacity

Surplus Crude Oil Production Capacity

Real Gross Domestic Product (a)

Nominal U.S. Dollar Index (b)

Consumption (million barrels per day)

End-of-period Inventories (million barrels)

HGL Net Imports

HGL Refinery and Blender Net Inputs

HGL Inventories (million barrels)

Refinery and Blender Net Inputs

Refinery and Blender Net Production

End-of-period Inventories (million barrels)

Consumption (billion cubic feet per day)

End-of-period Inventories (billion cubic feet)

Consumption (million short tons)