Menu
Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids.
Exploration and reserves, storage, imports and exports, production, prices, sales.
Sales, revenue and prices, power plants, fuel use, stocks, generation, trade, demand & emissions.
Energy use in homes, commercial buildings, manufacturing, and transportation.
Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports.
Includes hydropower, solar, wind, geothermal, biomass and ethanol.
Uranium fuel, nuclear reactors, generation, spent fuel.
Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources.
Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports.
Financial market analysis and financial data for major energy companies.
Greenhouse gas data, voluntary reporting, electric power plant emissions.
Maps, tools, and resources related to energy disruptions and infrastructure.
State energy information, including overviews, rankings, data, and analyses.
Maps by energy source and topic, includes forecast maps.
International energy information, including overviews, rankings, data, and analyses.
Regional energy information including dashboards, maps, data, and analyses.
Tools to customize searches, view specific data sets, study detailed documentation, and access time-series data.
EIA’s free and open data available as API, Excel add-in, bulk files, and widgets
Come test out some of the products still in development and let us know what you think!
EIA’s open source code, available on GitHub.
Forms EIA uses to collect energy data including descriptions, links to survey instructions, and additional information.
Sign up for email subcriptions to receive messages about specific EIA products
Subscribe to feeds for updates on EIA products including Today in Energy and What’s New.
Short, timely articles with graphics on energy, facts, issues, and trends.
Lesson plans, science fair experiments, field trips, teacher guide, and career corner.
Reports requested by congress or otherwise deemed important.
Release Date: Oct. 8, 2024 | Forecast Completed: Oct. 3, 2024 | Next Release Date: Nov. 13, 2024 | Full Report | Text Only | All Tables | All Figures
U.S. crude oil production
We reduced our 2025 forecast for U.S. Lower 48 states (L48) crude oil production in the October STEO from last month by 1% to 11.3 million b/d. This reduction reflects a downward revision to our West Texas Intermediate (WTI) crude oil price forecast. We now expect WTI will average $72/b in 4Q24, about $6/b lower than last month’s forecast. Because there is about a six-month lag between price changes and producer activity, the recent price declines will begin reducing U.S. crude oil production in mid-2025. By December 2025, U.S. L48 crude oil production will be 11.4 million b/d, 2% lower than our September STEO forecast.
Recent industry survey results align with a slowdown in U.S. exploration and production company activity. The Dallas Fed Energy Survey’s Business Activity Index for 3Q24 indicates a contraction, signaling concerns about demand in the oil and natural gas sector. This contraction is the first in the activity index since 3Q20.
Our expectation of lower crude oil prices reduced our production forecasts the most for the Permian region. Although we lowered our forecast for crude oil production in the Permian, we still expect production in the region to increase over time. In addition to ongoing improvements in oil well productivity in the region, the Matterhorn Express pipeline recently began operation, which will help alleviate constrained takeaway capacity for associated natural gas and allow for additional crude oil production.
More production from regions outside the Permian, such as the Eagle Ford and Bakken, offset our reduction of Permian production early in the forecast period. The increase in our production forecast for these regions in the coming months relative to the September STEO primarily reflects historical revisions in our survey, EIA-914, Monthly Crude Oil and Natural Gas Production. However, similar to our forecast for the Permian region, we expect lower prices to bring down production in these regions compared with last month’s forecast beginning in mid-2025.
Hurricane Helene, a Category 4 storm, led to the shutdown of 29% of oil production in the Gulf of Mexico (GOM) in September. This disruption followed Hurricane Francine, which shut in up to 42% of crude oil production in GOM. As a result, we reduced our estimates and forecasts for both September and October GOM crude oil production. However, we expect GOM will return to our previously forecast level by November.
Gasoline prices
Our lower crude oil price forecast reduced our gasoline price forecast. We now expect the U.S. retail gasoline price to average $3.20 per gallon (gal) in 2025, down 10 cents/gal from the September forecast. We also expect the $3.20/gal average next year to be down 10 cents/gal from the 2024 average retail gasoline price.
Provides custom data views of historical and forecast data
