Gulf of Mexico Shut-Ins, U.S. Summer Electricity Demand: 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. Summer Electricity Demand Expected to be Lowest Since 2009 - The U.S. Energy Information Administration (EIA) expects U.S. electricity demand to total 998 billion kilowatt-hours this summer (June through August), the lowest level of summer electricity consumption in the United States since 2009 and 5% less than last summer. Most of the expected decline in retail electricity sales occurs in the commercial and industrial sectors, which the EIA forecasts to be 12% and 9% less, respectively, than during summer 2019. The agency expects residential electricity sales to grow by 3% this summer because more people are working from home. (EIA)

PRODUCTION
About 24% of Gulf of Mexico Offshore Oil Production Remains Shut-In After Tropical Storm - About 24%, or 435,767 barrels per day (BBL/d), of crude oil production remained shut in the offshore U.S.-regulated Gulf of Mexico on Wednesday after Tropical Storm Cristobal, the U.S. Bureau of Safety and Environmental Enforcement said. About 23%, or 619 million cubic feet a day, of offshore natural gas output remained shut in. (Reuters)

CRUDE OIL
U.S. Crude Oil Stocks Rise to All-Time High - U.S. crude oil inventories rose 5.7 million barrels in the week ending June 5 to a record-high 538.1 million barrels. Refiners' imports of Saudi Arabian barrels have averaged more than 1.5 million BBL/d for three consecutive weeks, which has not happened since 2013. Gasoline inventories rose 866,000 barrels. Distillate stockpiles, which include diesel and heating oil, increased by 1.6 million barrels. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.