Domestic production of oil and gas rebounded, and the US remained the world’s largest producer of both fuels. Primary energy consumption grew for the first time since 2014
- Oil production (crude and NGLs) saw the world’s largest volumetric increase, rising by 690 Kb/d (+5.6%) to a record 13.1 Mb/d
- With domestic energy production (+4.3%) rising faster than consumption (+0.6%), US energy production as a share of consumption increased to 87.9%. The US became a net natual gas exporter
- The share of renewables in the US fuel mix (including biofuels) reached a record 5.9%, up from 1.7% a decade ago
+0.6% Growth in US energy consumption
+4.3% Growth in US energy production
-1.3% Decline in US power generation
-0.5% Decline in US CO2 emissions
- Primary energy consumption growth was well above the 10-year average decline of 0.3%. Rising consumption of renewables in power (+14.3%), hydro (+12.7%), oil (+0.9%) and nuclear (0.2%) offset declines in coal (-2.2%) and natural gas (-1.2%).
- Oil remained the dominant fuel, accounting for 40.9% of total US energy use, the highest share since 2007. Consumption saw a fifth consecutive above-average increase, rising by 190 Kb/d.
- Natural gas consumption (28.4% of total energy use) fell by 1.2%, compared with the 10-year average increase of 2.5%. Power generated from natural gas fell by 7.4% – the largest decline (in TWh) on record.
- Coal consumption fell by 2.2%; coal’s share of the US energy mix (14.9%) was the lowest on record, and consumption in absolute terms was the lowest since 1978.
- Growth of renewables in power generation (+52 TWh) nearly matched 2016’s record increment. Wind had the largest increment (+28 TWh) but solar saw a larger growth rate (+40.9%).
- Primary energy production growth was well above the 10-year average increase of 1.8%.
- Production of every energy form increased, led by oil (+5.4%), coal (+6.9%), and renewables in power (+14.3%).
- Net oil imports fell to 4.5 Mb/d, the lowest level since 1985 and the smallest share of consumption on record.
- US natural gas exports exceeded imports by 0.5 bcm.
- Power generation fell by 1.3%, a third consecutive decline. Increased generation from renewables and hydro was more than offset by declines in generation from natural gas and coal.
- CO2 emissions from energy use fell by 0.5%, compared with the 10-year average decline of 1.2%. Emissions reached their lowest levels since 1992 and were 13.5% below the peak seen in 2007.
- Energy intensity (the amount of energy required per unit of GDP) fell by 1.6%, in line with the 10-year average.