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.

Venezuela’s oil production has fallen by 70% over the past two decades

Venezuela’s oil production has fallen by 70% over the past two decades from 3.1 mb/d in 2005 to 0.9 mb/d in 2024. Over the five-year period from 2020 to 2024, Venezuela completed only 190 new oil wells. By comparison, the country completed 1,560 in 2007 alone.

U.S. consumers are spending a smaller share of their disposable income on energy than they did in the past

In 2024, consumers spent the equivalent of ~5.7% of their disposable income on gasoline, natural gas, electricity, fuel oil, and other fuels. This is down from a high of 10% in 1984.

U.S. natural gas production is up 27% since January 2019

U.S. natural gas marketed production has increased by 25 bcf/d since January 2019. Texas, New Mexico, and West Virginia have accounted for 94% of the net growth.

Oil production in Central and South America is forecast to account for 10% of non-OPEC production next year

Brazil, Argentina, and Guyana are all expected to produce record highs of crude oil and other liquids next year. Combined, these three countries are forecast to produce ~7.4 million b/d in 2027, accounting for 10% of total non-OPEC production.

The U.S. Midwest has steadily increased refining capacity and inputs

Since 2010, PADD 2 refinery capacity has increased ~500 kb/d (14%). Consumption in the region has also increased by ~200 kb/d (4%), but the larger increase in petroleum product production means the region receives fewer refined products shipped in from other regions.

More than half of Permian wells were completed simultaneously last year

U.S. operators in the Permian region of Texas and New Mexico completed ~3,600 wells in 2025 using simultaneous hydraulic fracturing (simul frac), a technique that minimizes completion crew time on well pad sites by completing two wells simultaneously.

The commercial sector is now the largest electricity consumer in Ohio, driven by data center expansions

Ohio's commercial electricity sales surpassed residential sales for the first time on a twelve-month moving average basis in August 2025 and now account for 35% of all electricity sales in the state. This surge in electricity demand has contributed to tighter natural gas balances in the state. Natural gas consumption was 3.7 billion cubic feet per day (bcf/d) in October 2025, near an all-time high for the state and driven by growth in natural gas consumption for electric power.

U.S. refiners have largely phased out the use of Venezuelan crude oil

Many U.S. refiners on the U.S. Gulf Coast (PADD 3) were designed to process medium and heavy grades of crude oil, such as those produced in Canada, Mexico, and Venezuela. Years of changes in both Venezuela and North America have led to a significant decline in the amount of Venezuelan crude oil that U.S. refiners process.

U.S. battery electric vehicle (BEV) sales fell to a 39-month low in November 2025

BEV sales surged in September, ahead of the expiration of the $7,500 federal tax credit, but then plummeted through the end of the year.

Total demand for U.S. natural gas has grown faster than working storage capacity

Total demand for U.S. natural gas, including domestic consumption and exports, has grown faster than working storage capacity over the past several years. When indexed to 2012, working storage capacity has increased ~7% through late 2025. Demand for U.S. natural gas fluctuates seasonally, but averages more than 50% higher today than in 2012.