Today in Energy

• What are tank bottoms?
  16 July 2026
  Crude oil inventories held at storage facilities in Cushing, Oklahoma, fell below 20 million barrels during the week ending June 19 until the week ending July 10, according to our Weekly Petroleum Status Report.
• Petroleum markets responded to disruptions in the Middle East in the second quarter
  15 July 2026
  Petroleum markets in the second quarter of 2026 (2Q26) were characterized by continued disruptions to international crude oil and petroleum product flows through the Strait of Hormuz, contributing to higher and more volatile crude oil prices through most of the quarter. The disruptions also resulted in international buyers seeking alternative supply sources for petroleum products, driving up U.S. refinery margins, production, and exports.
• Global liquefied natural gas trade volumes reached record high in 2025
  14 July 2026
  Global liquefied natural gas (LNG) trade volumes increased 5.4% to a record 56.3 billion cubic feet per day last year (Bcf/d), driven largely by U.S. LNG export capacity expanding to meet growing demand, according to a recent report from the International Group of Liquefied Natural Gas Importers (GIIGNL). Global LNG trade has slowed this year following the closure of the key export route for Qatar, the world's second-largest LNG exporter.
• The United States produced more crude oil than any other country in 2025
  09 July 2026
  The United States remained the world's largest crude oil producer in 2025, according to our International Energy Statistics database, extending a streak that began in 2018 when the United States overtook Russia to become the world's leading producer.
• U.S. exports of crude oil and petroleum products reached record in April
  08 July 2026
  U.S. petroleum exports reached a record in April as disruptions to international crude oil and refined product flows through the Strait of Hormuz increased global demand for U.S. exports. Exports increased to 13.6 million barrels per day (b/d) in April, 15% more than the previous record set in March.
• The 250-year history of U.S. energy consumption
  30 June 2026
  Over the 250-year history of our nation, energy consumption has evolved from wood use in the 18th and 19th centuries to today's use of modern renewable, hydrocarbon, and nuclear technology. In 2025, total energy used in the United States was 96 quadrillion British thermal units (quads), up 2% from 2024, but below 2007's record 99 quads. Petroleum was the most-used energy source last year, followed closely by natural gas. Use of renewable, coal, and nuclear energy each made up about 9% of total energy use.
• U.S. refining capacity decreased during 2025
  29 June 2026
  U.S. operable atmospheric distillation capacity, the primary measure of refinery capacity, totaled 18.2 million barrels per calendar day (b/cd) on January 1, 2026-down over 250,000 b/cd (about 1%) compared with January 1, 2025-according to our latest annual Refinery Capacity Report.
• Metered electricity demand in the New York ISO falls midday because of small-scale solar
  26 June 2026
  An increase in electricity generation from small-scale solar in New York has decreased the midday demand for metered electricity, amid overall declining load in the state. The trend is particularly notable in the early spring (March and April), when solar generation has an outsized impact because demand is relatively low and conditions for solar generation are favorable.
• U.S. commercial crude oil inventories have decreased in June
  24 June 2026
  For the week ending June 19, 2026, U.S. refineries processed 17.1 million barrels per day (b/d) of crude oil, down 81,000 b/d from the previous week, and they operated at 96.1% capacity utilization. Gasoline production averaged 9.5 million b/d, and distillate production increased to 5.2 million b/d.
• UAE's exit from OPEC+ reduced the group's share of crude oil production and capacity
  23 June 2026
  On April 28, 2026, the United Arab Emirates (UAE) announced that it was leaving OPEC, effective on May 1. OPEC was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela, with the stated objective to "coordinate and unify petroleum policies among Member Countries." OPEC is best known for its effect on global crude oil prices.