RSS feed source: US Energy Information Administration

In-brief analysis

July 28, 2025

Crude oil production from onshore federal lands has increased in recent years as a result of significant growth in drilling activity and operations. According to data collected by the U.S. Department of the Interior’s Office of Natural Resources Revenue, onshore crude oil production from federal lands reached 1.7 million barrels per day (b/d) in 2024, a record high. Most of this growth was in New Mexico from crude oil produced from federal lands in the Permian Basin.

Increases in crude oil production from federal lands in New Mexico are attributable to multiyear increases in the number of leases, drilling permits approvals, and well bore starts. Based on Bureau of Land Management data for fiscal years 2020 through 2023, activity in New Mexico accounted for the majority of drilling permits approved and well

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RSS feed source: US Energy Information Administration

In-brief analysis

July 23, 2025

We expect U.S. coal-fired power plants will remain relatively well-stocked through the end of next year in our latest Short-Term Energy Outlook. We estimate power plants in the United States had 124 million short tons of coal on-site at the end of June for them to consume that coal at a rate of about 1.3 million short tons per day, meaning they had about 93 days’ worth of fuel on-site. This metric, also called days of burn, is calculated by dividing coal inventories held at power plants by a seasonal consumption rate. We forecast days of burn will range between about 90 and 120 days between now through the end of 2026, or about a month’s worth of coal more than power plants had on-site between 2019 and 2022.

Although coal inventories

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RSS feed source: US Energy Information Administration

In-brief analysis

July 24, 2025

Data source: Bloomberg L.P.
Note: Annualized percentage, a widely used trading measure of price volatility, is the standard deviation for the previous quarter of daily changes in the Henry Hub front-month futures price multiplied by the square root of 252 (number of trading days in a year) multiplied by 100. Percentages are averages for that period. 1Q25=first quarter of 2025

The average historical volatility of the daily Henry Hub front-month futures price, a key benchmark for U.S. natural gas, trended downward through the first half of the year, with quarterly volatility falling from a recent high of 81% in the fourth quarter of 2024 to 69% by mid-2025. This decline marks a return to more typical seasonal patterns and reflects greater market stability as storage inventories return to levels close to the

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RSS feed source: US Energy Information Administration

In-brief analysis

July 22, 2025

The United States exported more crude oil to Nigeria than it received from Nigeria for the first time in February and March 2025. During this period, refinery maintenance on the U.S. East Coast drove down U.S. demand for crude oil imports, including imports from Nigeria, and the relatively new Dangote refinery in Nigeria drove up Nigeria’s demand for inputs, including crude oil it imported from the United States. This marks the first time that the United States was a net crude oil exporter to Nigeria, and structural changes to crude oil trade between the countries suggest this dynamic could occur more frequently.

In January 2024, the Dangote refinery in Nigeria began processing crude oil, and in the following month Nigeria imported crude oil from the United States. Nigeria is more commonly considered

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