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Skip to page content . What's New Short-Term Energy Outlook May 12, 2020 State Energy Data System: Wood and biomass waste through 2018 May 08, 2020 EIA reports first triple-digit net natural gas storage injection since October 2019 May 07, 2020 More Coming Up Underground Natural Gas Working Storage Capacity U.S. Natural Gas Imports & Exports More Posted May 14, 2020 Today in Energy EIA forecasts U.S. crude oil production to fall in 2020 and 2021 › The U.S. Energy Information Administration (EIA) expects U.S. crude oil production to fall in 2020 and 2021 as efforts to mitigate the spread of the 2019 novel coronavirus disease (COVID-19) continue to result in a steep drop in demand for petroleum products and crude oil prices. In its May Short-Term Energy Outlook (STEO), EIA forecasts that U.S. crude oil production will average 11.7 million barrels per day (b/d) in 2020 and 10.9 million b/d in 2021. These levels would be 0.5 million b/d and 1.3 million b/d, respectively, lower than the 2019 average of 12.2 million b/d. More › Source: EIA, Short-Term Energy Outlook (STEO) Data Highlights WTI crude oil futures price 5/13/2020: $25.29/barrel up $1.30 from week earlier down $36.49 from year earlier Natural gas futures price 5/13/2020: $1.616/MMBtu down $0.328 from week earlier down $1.043 from year earlier Retail gasoline price 5/11/2020: $1.851/gal up $0.062 from week earlier down $1.015 from year earlier Crude oil inventories 5/8/2020: 531.5 million barrels down 0.7 million barrels from week earlier up 59.4 million barrels from year earlier Weekly coal production 5/9/2020: 8.299 million tons up 0.129 million tons from week earlier down 5.804 million tons from year earlier Features Natural Gas Storage Dashboard Interactive daily and weekly information for a broader context to EIA's Weekly Natural Gas Storage Report Weekly Petroleum Status Report Report now includes weekly estimates of U.S. crude oil storage capacity utilization Hourly Electric Grid Monitor Hourly actual and forecast electricity generation and demand by U.S. region and power authority Our Experts Speak EIA Administrator Dr. Linda Capuano presents the Annual Energy Outlook 2020 at the Bipartisan Policy Center January 29, 2020 January 29, 2020 EIA Administrator Dr. Linda Capuano delivers testimony to the...