EIA Oil & Power Forecasts, China's Iranian Oil Imports: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
EIA: U.S. Power Use to Reach Record Highs in 2025, 2026 - U.S. power consumption will hit new record highs in 2025 and 2026, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Thursday. The EIA projected power demand will rise to 4,201 billion kilowatt-hours (kWh) in 2025 and 4,244 billion kWh in 2026, from a record 4,097 billion kWh in 2024. The agency forecast 2025 power sales will rise to 1,527 billion kWh for residential consumers, 1,467 billion kWh for commercial customers and 1,059 billion kWh for industrial customers. The EIA said natural gas' share of power generation would slide from 42% in 2024 to 40% in 2025 and 2026. Coal's share will hold at 16% in 2025, the same as 2024, before easing to 15% in 2026, as renewable output rises. The percentage of renewable generation will rise from 23% in 2024 to 25% in 2025 and 27% in 2026, while nuclear power's share will hold at the 2024 level of 19% in 2025 and 2026, according to the outlook. (Reuters)

CRUDE OIL
EIA Warns of Lower Crude Oil Demand - Tariffs are clouding the global economic outlook and could weigh heavily on oil prices in the months ahead, the UEIA said on Thursday as it lowered its oil demand forecasts through 2026. The EIA said it now expects global oil and fuel demand to grow by 900,000 barrels per day (BBL/d) from last year to around 103.6 million BBL/d this year. It previously expected growth of 1.2 million BBL/d this year. For next year, the EIA now expects demand growth of around 1 million BBL/d, down from its previous forecast of 1.2 million BBL/d. (Reuters)

China's March Iranian Crude Oil Imports Soar on U.S. Sanction Fears - China's imports of Iranian oil surged in March as buyers stocked up amid worries that further U.S. sanctions on Tehran could tighten supplies, traders and analysts said. China's oil imports from Iran surpassed 1.8 million BBL/d last month, an all-time high. China buys some 90% of Iran's oil exports, which are mostly trans-shipped in waters off Malaysia and Singapore and rebranded as Malaysian. Iranian oil accounted for 13% of China's March crude imports, Kpler data showed. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).