Charts & Analysis

Regularly updated with new charts and explanations that help make sense of a complex and ever-changing industry. Brought to you by the experts at API. Come back regularly for new content. For questions please contact: press@api.org.

Global energy demand climbed to a record high in 2024

Energy Institute data shows consumption levels for all major energy sources reached record levels in 2024, including oil, natural gas, coal, nuclear, hydroelectricity, solar, wind, biofuels, and other renewables.

The U.S. is the largest NGL producer in the world

The U.S. accounted for 49% of global natural gas liquids (NGLs) production in 2024 and produced more than four times the amount of the second largest producer, Saudi Arabia.

Rising domestic crude oil production has helped the U.S. become less reliant on crude oil imports

Over the past decade, domestic crude oil production has grown by 50% while net crude oil imports have fallen by 65%.

U.S. summer driving season is in full force, boosting domestic gasoline demand

EIA’s preliminary weekly data shows gasoline demand in early July was up ~430 kb/d compared to March’s average demand level. This is slightly more than the seasonal average change for the period (+315 kb/d).

U.S. oil and natural gas producers imported $4.1 billion of casing, pipes, and tubing in 2024

The U.S. oil and natural gas industry uses both domestic and imported steel products in its operations. Many of the imported products are specialized with few or no domestic substitutes.

Canada’s crude oil exports to Asia and U.S. West Coast have risen following the Trans Mountain pipeline expansion

The Trans Mountain pipeline expansion added 590 kb/d of crude oil takeaway capacity between Canada’s oil producing fields in Alberta and the Port of Vancouver on the west coast.

New oil and natural gas investment and drilling is constantly needed to offset natural declines

Without new drilling, crude oil production can quickly decline. For example, in the Gulf of America, if all new drilling stopped, crude oil production could decline from 1.8 mb/d in 1Q2025 to 1.1 mb/d by 4Q2028, according to Rystad data.

California’s gasoline price premium to the U.S. average has grown over time

Gasoline is now $1.3/gal more in California than the national retail average, up from just a $0.30/gal premium in 2005-2014.

U.S. ethane production and exports rose a record in 2024

The U.S. produced 2.8 mb/d of ethane in 2024, up 1.0 mb/d or 55% since 2019.

More than 50% of vehicles sold in China are EVs

China’s EV market has grown rapidly. Five years ago, EV’s accounted for ~5% of China’s vehicle sales and now they account for >50%.