November 2, 2001—In the wake of the September 11th terrorist attacks on the United States and uncertainty over the costs of oil and other fuels, the US Department of Energy’s Energy Information Administration (EIA) has established the Energy Situation Analysis Report to monitor the latest energy market highlights, weekly petroleum information, US petroleum price and supply statistics, and other information related to energy markets.
According to the report, oil prices are hovering around two-year lows and remain around 25 percent lower than on September 10. US petroleum product (motor gasoline, jet fuel, heating oil) prices are significantly below levels at the same time last year. Natural gas prices also are far below year-ago levels. And US coal production for all of 2001 is running about 5 percent above last year’s.
Saudi Arabia, the United Arab Emirates, and Oman have stated that they would attempt to coordinate efforts by all major oil producers to help stabilize oil prices, including “measures to reduce excess crude supply,” says EIA.
See the latest Energy Situation Analysis Report on the EIA Web site.
