U.S. Ethanol Exports, APA Corporation's Gas Curtailing: 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.

ETHANOL
U.S. Ethanol Exports Increase - U.S. Census Bureau data published earlier this week showed U.S. ethanol exports at a record 6.6 billion liters (1.75 billion gallons) between September 2023 and August 2024, which spans the 2023-24 U.S. corn marketing year. August marked the fifth consecutive month in which a new monthly export record was set, and total ethanol shipments over that five-month period were 30% greater than 2018's previous record for that stretch. Canada accounted for 37% of the 2023-24 U.S. ethanol shipments, and relatively new customer the United Kingdom came in second at 13%. (Reuters)

PRODUCTION
APA Corporation Curtailed Gas Production in Third Quarter - U.S. shale producer APA Corporation (NASDAQ:APA) (Houston, Texas) curtailed about 103 million cubic feet per day (MMcf/d) of natural gas production in the third quarter in response to weak commodity prices, the company said on Wednesday. APA has curtailed production in all quarters of fiscal 2024 so far, primarily because of weakness in natural gas prices. The company also curtailed 10,000 barrels per day (BBL/d) of natural gas liquids (NGLs) during the July-September quarter. APA had curtailed 78 MMcf/d of natural gas production and 7,600 BBL/d of NGLs in the second quarter. (Reuters)

CRUDE OIL
EIA Lower U.S., Global Oil Demand Forecast for 2025 - Global and U.S. oil demand growth next year will not meet prior forecasts due to weakening economic activity in China and North America, the U.S. Energy Information Administration (EIA) said earlier this week in its Short-Term Energy Outlook report. World oil demand is expected to grow 1.2 million BBL/d to 104.3 million BBL/d next year, about 300,000 BBL/d below prior forecasts, the EIA said. Demand would come in at around 103.1 million BBL/d this year, a 20,000-BBL/d reduction on prior forecasts, the EIA said. The EIA expects U.S. oil demand to rise to 20.5 million BBL/d next year, down from its previous forecast of 20.6 million BBL/d. U.S. demand forecast for 2024 was unchanged at 20.3 million BBL/d, according to the EIA report. (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).