---
title: Today's Takeaways from the EIA Short Term Energy Outlook
description: Expect more production, more inventory, lower prices, continued progress on clean energy and a decline in carbon emissions - at the same time.
---

[Dennis K. Burke, Inc. Market Updates ](https://www.burkeoil.com/value-added-services/energy-market-updates)

# [Today's Takeaways from the EIA Short Term Energy Outlook](https://www.burkeoil.com/value-added-services/energy-market-updates/todays-takeaways-from-the-eia-short-term-energy-outlook)

 Written by [Kelly Burke](https://www.burkeoil.com/value-added-services/energy-market-updates/author/kelly-burke) | Jan 15, 2019 8:30:22 PM

The US Energy Information Association - EIA - is out today with the Short Term Energy Outlook report with projections for 2019 & 2020.

Here are what I think are the major takeaways:

- **2019 Price forecast for Crude oil** - $61/bbl Brent, $53-57/bbl WTI. The Brent average for 2018 was $71/bbl, so we are expecting to continue to downward overall trend in pricing. 
- **2019 Projected retail gas price** - $2.47 (Down from 2018 average of $2.73) 
- **US Crude Production** hit a high in 2018 - it is expected to continue to accelerate from the current level through 2019 & 2020. Over the next 2 years, experts expect an increase of over 1.5 million barrels per day. 
- **US Importing of crude & refined products** is expected to continue to decline. Although we temporarily saw the US become a net exporter in 2018, the actual average per day imported was around 2 million barrels. That's expected to decline to 1mmb/d for 2019 and a shocking 0.1 mmb/d per day in 2020. (You read that right - .01, amazing)
- **US (Dry) Natural Gas production** is expected to jump from 83 bcf per day in 2018 to 90 in 2019. 
- **Global Inventories** are expected to continue to increase.  
- On the **clean energy** front, coal's role in electrical production continues to decline over the next 2 years. Hydropower's share of generation is projected to remain stable. Wind power electrical generation is expected to outpace hydropower for the first time ever in 2019.
- **Carbon emissions** are projected to decline 1.2% in 2019 as well, and a little under 1% for 2020 as it stands now. 

 

Long story short - expect more production, more inventory, lower prices, continued progress and growth on cleaner energy and a decline in carbon emissions - all at the same time. Happy 2019!  

 

[View full post](https://www.burkeoil.com/value-added-services/energy-market-updates/todays-takeaways-from-the-eia-short-term-energy-outlook)

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