The U.S. Energy Information Administration (EIA) published its first forecasts for energy production, consumption, and prices through 2026 in its January Short-Term Energy Outlook (STEO).

The U.S. Energy Information Administration (EIA) expects the average price of natural gas for the remainder of the winter heating season to be almost 50% higher than the November spot price, despite expectations that U.S. natural gas inventories will remain higher than average throughout the winter. Although the price increase is notable, recent U.S. natural gas prices have been at near or record lows, and the increase will keep prices in line with previous end-of-winter prices.

The U.S. Energy Information Administration (EIA) expects U.S. refinery capacity to average 17.9 million barrels per day by the end of 2025, about 3% less than at the beginning of this year. In its November Short-Term Energy Outlook, EIA forecasts that after declining for several years, refinery margins (the difference between the selling price and the cost of production) for gasoline and diesel, known as crack spreads, will remain relatively unchanged in 2025.

The U.S. Energy Information Administration (EIA) expects most U.S. households, on average, will pay about the same to heat their homes as they did last winter. A notable exception is that EIA expects Midwestern homes heated by natural gas will pay about 11% more on average for heat than last winter.

The U.S. Energy Information Administration (EIA) will host a webinar on Wednesday, October 9, to discuss price, consumption, and expenditure trends for major heating fuels for U.S. households for the upcoming winter. EIA’s Winter Fuels Outlook includes U.S. national and regional forecasts for electric heat, natural gas, heating oil, and propane. We will publish the Winter Fuels Outlook forecasts on Tuesday, October 8, as part of the Short-Term Energy Outlook.

The U.S. Energy Information Administration (EIA) has several sets of data on the domestic production of crude oil and natural gas. Depending on your interests, the resources below can help you find the crude oil and natural gas data you need.

The U.S. Energy Information Administration (EIA) expects that Brent crude oil prices will return to above $80 per barrel this month, after dipping to $73 per barrel on September 6. In its September Short-Term Energy Outlook (STEO), EIA forecasts that the Brent crude oil spot price will average $82 per barrel in the fourth quarter of the year.

The U.S. Energy Information Administration (EIA) expects that U.S. residential electricity prices will increase by about 1% in 2024, the slowest rate of year-over-year growth since 2020. Natural gas prices have been falling since late 2023, and those lower prices are now being factored into retail electricity rates. Natural gas provides the largest share of U.S. electricity generation.

The U.S. Energy Information Administration (EIA) expects that the United States will generate more electricity from renewables and coal in the second half of this year, as electricity demand and natural gas prices increase.