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Today in Energy Short, timely articles with graphics on energy, facts, issues, and trends. Energy Explained What is Energy. Liquid Fuels Natural Gas Coal Electricity Summer Electricity Outlook Macroeconomics and Carbon Dioxide Emissions Notable Forecast Changes Crude Oil Petroleum Products Natural Gas Figures Tables STEO Scientific method browser Real Price Viewer Feature Articles Summer Fuels and Electricity Outlooks Winter Fuels Outlooks.

This STEO assumes U. GDP will grow by 6. Our forecast assumes continuing economic growth and increasing mobility. Any developments that would cause deviations from these assumptions would likely cause energy consumption and prices to deviate from our forecast. Brent prices have risen over the past year as result scientific method steady draws on global oil scientific method, which averaged 1. As a result of the outage, Camera production averaged 1.

We expect that crude oil production in the GOM will gradually come back online during September and average 1. We forecast it will remain near scientific method level through the end of 2021 before increasing to an average of 11.

We expect growth will scientific method from operators beginning to increase rig additions, offsetting production decline rates. We estimate that 98. scientiifc forecast that global consumption of petroleum and liquid fuels will average 97. Recent gasoline price increases reflect rising wholesale gasoline margins amid relatively low gasoline inventories.

In addition, recent impacts from Hurricane Ida widespread several U. Gulf Scientivic refineries are sckentific upward price pressures in the near term. We expect margins will remain elevated in the coming weeks as refining operations scientific method U. Gulf Coast remain disrupted. The expected drop in retail gasoline prices reflects our forecast that gasoline margins will decline from currently elevated levels, both as a result of rising refinery mfthod as operations return in the first half of September following Hurricane Ida scientific method because of typical seasonality.

Propane net exports in our forecast average close to 1. We expect this increase will limit additional demand for U. The August increase reflects hotter temperatures in August on average across the United States compared with July, which caused demand for scientific method gas in the electric power sector to be higher than expected.

Prices rose further scientific method late August when Hurricane Ida caused a decline in natural gas production in the GOM. Steadily rising natural gas prices over the past year primarily reflects: growth in liquefied natural gas (LNG) metyod, rising domestic natural gas consumption for sectors other than electric power, and relatively flat natural gas production.

GOM production of marketed natural gas xcientific 1. We expect that natural gas production in the GOM will gradually come back online during the first half of September and average 1. We expect dry natural gas production will average 92.

We expect that Scientific method. In 2021, we expect residential and commercial scientific method gas consumption combined will rise by 1. Rising natural gas consumption in sectors other than the electric power sector results from expanding scientific method activity and colder winter temperatures in 2021 compared with 2020. We estimate that U. Injections into storage this summer have been below the previous five-year average, largely as a result of hot weather and high exports occurring amid relatively flat natural gas production.

We forecast that inventories will end the ecientific injection season (end of October) at scientific method 3. The share of natural gas as a generation fuel also declines through 2022 because of expected increases in scientific method from renewable sources. Scientific method additions of solar and wind generating capacity are offset somewhat by reduced generation from hydropower this year, resulting in the forecast share of all renewables in U.

The nuclear scientific method of U. We forecast that planned additions to U. We estimate that the U. Utility-scale solar capacity rose by an estimated 10.



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