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In-brief analysis

November 13, 2026

Prolonged drought conditions affecting the Colorado River Basin led to record low hydropower generation this summer in the Southwestern electricity supply region, which includes Arizona, New Mexico, and small parts of Nevada and California. Hydropower generation from April through August 2026 was 19% lower than during the same period last year and 28% lower than the 10-year average, according to the latest data from our Form EIA-923 survey.

Water elevations at Lake Powell and Lake Mead, which are formed by the Glen Canyon Dam and Hoover Dam, respectively, hit record lows. To be able to generate hydropower at the Glen Canyon Dam, Lake Powell should have an elevation of at least 3,490 feet, also known as the minimum power pool. At the end of September, this elevation reached 3,518 feet, less

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RSS feed source: US Energy Information Administration

In-brief analysis

November 12, 2026

After decades of decline, crude oil production in Alaska is growing, driven by two projects on Alaska’s North Slope. In our latest Short-Term Energy Outlook, we expect a 23,000 barrels per day (b/d) (6%) increase in 2026, followed by a 60,000 b/d (13%) rise in 2027. At a forecast 505,000 b/d in 2027, output would be the most since 2014.

If realized, these annual production increases will be the largest since the 1980s, when Alaskan crude production peaked at 2.0 million b/d.

The recent growth is attributable to two projects on Alaska’s North Slope:

The Nuna project, owned by ConocoPhillips, started production in December 2024 and is expected to produce 20,000 b/d at its peak. So far this year, it has produced an average of 10,000 b/d,

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In-brief analysis

November 6, 2026

Data source: U.S. Energy Information Administration, Petroleum Supply Monthly

In July 2026, U.S. imports of crude oil from Venezuela averaged 701,000 barrels per day (b/d), the most since May 2017, before decreasing to 655,000 b/d in August, according to data published in our Petroleum Supply Monthly.

Crude oil imports from Venezuela started the year at 200,000 b/d and have steadily increased most months this year. Increased imports from Venezuela are supported by high crude oil demand from U.S. refineries because of high global refinery margins and the easing of U.S. government restrictions on purchases from the country. Many refineries on the U.S. Gulf Coast (PADD 3) are configured to process heavy sour crude oil grades, such as those from Venezuela.

According to data from Vortexa, the majority of

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RSS feed source: US Energy Information Administration

In-brief analysis

November 5, 2026

Data source: U.S. Energy Information Administration, Petroleum Supply Monthly

Particularly high refinery margins for distillate fuel oil and jet fuel have contributed to shifts in the refinery yields of major products in 2026. Data from our latest Petroleum Supply Monthly—which includes data through August 2026—indicate refinery yields of gasoline have decreased significantly this year to support increased production of distillate fuel oil and jet fuel, sometimes referred to as middle distillates due to their relative cut points in the oil refining process.

Petroleum refinery yields represent the share of a specific fuel that is produced from each barrel of crude oil a given refinery (or group of refineries) processes. The U.S. refining fleet tends to have a strong refinery yield of gasoline—typically between 45%–50%. In general terms, for every

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