U.S. Power Use, Shale Oil Output: 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 Slide in 2023 - U.S. power consumption will ease in 2023 from last year's record high as forecast milder weather is set to depress usage, the U.S. Energy Information Administration (EIA) said in its recent Short-Term Energy Outlook. The EIA projected power demand will slide from a record 4,048 billion kilowatt-hours (kWh) in 2022 to 3,998 billion kWh in 2023, before rising to 4,074 billion kWh in 2024 as economic growth ramps up. (Reuters)

PRODUCTION
Output from Top U.S. Shale Oil Regions Set to Fall in November - U.S. oil output from top shale-producing regions is set to fall for a third month in a row in November to its lowest since May, the EIA said in its monthly Drilling Productivity Report on Monday. U.S. oil output is expected to fall to 9.553 million barrels per day (BBL/d) in November from 9.604 million BBL/d in October, EIA data showed. Crude oil output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to fall by about 30,000 BBL/d to 5.9 million BBL/d, the lowest since February. (Reuters)

NATURAL GAS
U.S. Natural Gas Falls Nearly 4% - U.S. natural gas futures fell about 4% to a fresh one-week low on Monday on record output, a drop in gas prices in Europe and forecasts for mild U.S. weather through late October that should keep heating and cooling demand low. Front-month gas futures for November delivery on the New York Mercantile Exchange fell 12.7 cents, or 3.9%, to settle at $3.109 per million British thermal units. (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 commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

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).