This Week in Energy: Two weeks of EIA analysis and new monthly data
U.S. Energy Information Administration
EIA provides energy statistics and analyses for sound policy making, efficient markets, and public education.
Global natural gas market may experience a tighter supply-demand balance this winter
The last two winters in the Northern Hemisphere were exceptionally mild, keeping global natural gas markets well supplied and balanced at relatively low prices. Prices going into this winter are only slightly higher than last year at the same time based on current forward natural gas and liquefied natural gas prices in Europe and Asia.
If weather remains mild this winter as in the past two winters, we expect a relatively stable global supply-demand balance with prices similar to the previous two winters. But if Europe and Asia experience colder temperatures this winter than in the past two years or other operational and market risks materialize, global supply-demand balances could tighten.
Read more about the natural gas market on Today in Energy.
What’s driving decreasing gasoline consumption in China?
Gasoline consumption in China has begun to fall in recent months amid increased sales of electric vehicles, slow economic growth, and population decline.
We estimate gasoline consumption in China averaged 3.2 million barrels per day in August 2024, 14% less than in August 2023. The trend continued in September and October, which were down from the same months in 2023.
Combined sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles were more than half of total passenger vehicle sales in China in October 2024, according to 彭博资讯 .
Read more about the factors affecting gasoline demand in China on Today in Energy.
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Grid infrastructure investments drive increase in utility spending over last two decades
Annual spending by major utilities to produce and deliver electricity increased 12% from $287 billion in 2003 to $320 billion in 2023 as measured in real 2023 dollars, according to financial reports to the Federal Energy Regulatory Commission . Capital investment in electric infrastructure mostly drove the increase, more than doubling over the period as:
Read more about utility spending on Today in Energy.