U.S. EIA Extends 5 Key Energy Forecasts through December 2026

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In our January 2024 Short-Term Energy Outlookwhich incorporates knowledge and forecasts by way of December 2026, we forecast 5 key power traits that we anticipate will assist form markets over the subsequent two years.

Electrical energy consumption will begin rising, pushed by new demand sources

annual U.S. electricity consumption — **Information supply:** U.S. Power Data Administration, *Short-Term Energy Outlook* (STEO), January 2025

After virtually 20 years of comparatively little change, electrical energy consumption grew by 2% in 2024, and we forecast it can proceed rising by 2% in each 2025 and 2026, largely because of demand from new semiconductor and battery manufacturing factories and from knowledge facilities.

Solar energy will provide many of the improve in electrical energy consumption

annual change in U.S. electric power sector capacity and generation by source — **Information supply:** U.S. Power Data Administration, *Short-Term Energy Outlook* (STEO), January 2025. **Word:** Battery storage internet technology is near zero, reflecting the online impact of charging and discharging.

Solar energy provides many of the improve in technology in our forecast. We anticipate the electrical energy sector so as to add 26 gigawatts (GW) of latest photo voltaic capability in 2025 and 22 GW in 2026. We anticipate these capability additions will improve U.S. photo voltaic technology by 34% in 2025 and by 17% in 2026.

International oil consumption development stays beneath its pre-pandemic common

annual change in world petroleum and liquid fuels consumption — **Information supply:** U.S. Power Data Administration, *Short-Term Energy Outlook* (STEO), January 2025

International oil consumption development in our forecast continues to be barely lower than the pre-pandemic development. We anticipate world consumption of liquid fuels to extend by 1.3 million barrels per day (b/d) in 2025 and 1.1 million b/d in 2026, pushed by consumption development in non-OECD nations. A lot of this development is in Asia, the place India is now the leading source of worldwide oil demand development in our forecast.

U.S. crude oil manufacturing development begins to degree off in 2026

U.S. crude oil production and components of annual change — **Information supply:** U.S. Power Data Administration, *Short-Term Energy Outlook* (STEO), January 2025

After reaching an annual document of 13.2 million b/d in 2024, U.S. crude oil manufacturing is forecast to common 13.5 million b/d this 12 months. We anticipate crude oil manufacturing to be largely unchanged in 2026 as drilling and completion exercise slows. The Permian area’s share of complete U.S. manufacturing will proceed to extend, accounting for greater than 50% of all U.S. crude oil manufacturing in 2026. Regardless of this elevated share, the anticipated manufacturing development within the Permian in 2026 will largely be offset by manufacturing contraction in different areas.

The US continues to export extra liquefied pure gasoline (LNG)

U.S. annual natural gas trade — **Information supply:** U.S. Power Data Administration, *Short-Term Energy Outlook* (STEO), January 2025

We anticipate exports of pure gasoline by pipeline and as LNG to extend in 2025, with many of the improve coming from LNG exports. Two new LNG export services—Plaquemines LNG and Corpus Christi LNG Stage 3—began producing LNG in December 2024, and Plaquemines LNG loaded and shipped its first LNG cargo on December 26.

Principal contributors: Tim Hess, Kristen Tsai

Article first printed on Today in Energy.