About 22% of light-duty vehicles sold in the first quarter of the year in the United States were hybrid, battery electric, or plug-in hybrid vehicles, up from about 18% in the first quarter of 2024. Among those categories, hybrid electric vehicles have continued to gain market share while battery electric … [continued]
China has a major role at each stage of the global battery supply chain and dominates interregional trade of minerals. China imported almost 12 million short tons of raw and processed battery minerals, accounting for 44% of interregional trade, and exported almost 11 million short tons of battery materials, packs, … [continued]
We expect U.S. hydropower generation will increase by 7.5% in 2025 but will remain 2.4% below the 10-year average in our May Short-Term Energy Outlook (STEO). Hydropower generation in 2024 fell to 241 billion kilowatthours (BkWh), the lowest since at least 2010; in 2025, we expect generation will be 259.1 BkWh. This … [continued]
We forecast consumption growth of crude oil and other liquid fuels will slow over the next two years, driven by a slowdown in economic growth, particularly in Asia, in our May Short-Term Energy Outlook (STEO). The world economy, measured by GDP, increases 2.8% in 2025 and 2026 in our forecast. Excluding the … [continued]
Colorado State University’s hurricane forecast estimates the 2025 hurricane season will exceed the 1991–2020 average, with an estimate of 17 named storms, compared with a historical average of 14 storms. Meteorologists expect 13–18 named storms, including 3–6 storms with direct impacts on the United States, during this year’s Atlantic hurricane season, according … [continued]
We forecast consumption growth of crude oil and other liquid fuels will slow over the next two years, driven by a slowdown in economic growth, particularly in Asia, in our May Short-Term Energy Outlook (STEO). The world economy, measured by GDP, increases 2.8% in 2025 and 2026 in our forecast. Excluding the … [continued]
Sustainable aviation fuel (SAF) production is growing in the United States as new capacity comes online. U.S. production of Other Biofuels, the category we use to capture SAF in our Petroleum Supply Monthly, approximately doubled from December 2024 to February 2025. SAF is an alternative to petroleum jet fuel. It’s produced from … [continued]
During the first quarter of 2025 (1Q25), crude oil prices generally decreased while U.S. refinery margins initially increased before decreasing in the final month of the quarter. In this quarterly update, we review petroleum markets price developments in 1Q25, covering crude oil prices, refinery margins, biofuel compliance credit prices, and … [continued]
U.S. imports of petroleum products decreased by 210,000 barrels per day (b/d) in 2024 to average 1.8 million b/d. Imports of all major transportation fuels, such as motor gasoline, diesel, and jet fuel, as well as other products, such as unfinished oils, decreased. Motor gasoline makes up the largest share … [continued]
Utility-scale solar power capacity in China reached more than 880 gigawatts (GW) in 2024, according to China’s National Energy Administration. China has more utility-scale solar than any other country. The 277 GW of utility-scale solar capacity installed in China in 2024 alone is more than twice as much as the 121 GW of utility-scale solar capacity installed … [continued]
