Onyx Power and Gas Consulting continues a weekly series providing the Short Term Energy Outlook as of August 8, 2017. This series of news articles should provide a complete insight on the current conditions of the energy…enjoy, check out archives and come back each week for additional information on how all sorts of energy sources impact our daily lives.
U.S. Liquid Fuels
- U.S. regular gasoline retail prices averaged $2.30 per gallon (gal) in July, down 5 cents/gal from the average in June but 6 cents/gal higher than in July 2016. During the April-through-September summer driving season of 2017, U.S. regular gasoline retail prices are forecast to average $2.37/gal, 14 cents/gal higher than last summer. Annual average U.S. regular gasoline retail prices are forecast to be $2.33/gal in both 2017 and 2018.
- U.S. crude oil production averaged an estimated 8.9 million barrels per day (b/d) in 2016 and is forecast to average 9.3 million b/d in 2017. EIA forecasts crude oil production to average 9.9 million b/d in 2018, which would mark the highest annual average production in U.S. history, surpassing the previous record of 9.6 million b/d set in 1970.
The professional consultants at Onyx Power & Gas Consulting are always ahead of the current issues that may affect energy consumption and pricing. Now is the time to partner with an Onyx professional consultant to discuss energy management and secure energy prices based on today’s stable pricing. Volatility in the energy markets makes it too precarious to take chances. Partner with Onyx Power & Gas in Making Energy Make a Difference!