Production declined in the combined five major US onshore crude oil-producing regions for the first time since 2016.
Based on forecasts in the US EIA’s January 2021 Short-Term Energy Outlook, EIA expects total production of fossil fuels in the United States to remain flat in 2021.
In its November Short-Term Energy Outlook, EIA forecasts that US crude oil production will remain near its current level through the end of 2021.
US pipeline exports of natural gas have been displacing other sources of Mexico’s natural gas, including LNG imports.
US crude oil exports reached a record high in February 2020 and have since fallen in each month, based on data through June, according to the US EIA.
Net exports began declining in spring 2020 as a result of a global economic slowdown amid the spread of COVID-19.
Changes in domestic production and declines in global demand for energy since mid-March have shifted energy trade balances back in the direction of net imports, according to the EIA.