Mitch Jennings

3 weeks ago | insight.factset.com | Mitch Jennings

Recent trends in U.S. refined product markets have revealed a complex and confounding interplay between inventory, production, and net exports, offering insight into broader economic signals. Total U.S. gasoline inventories are within the five-year range, while total U.S. diesel inventories are at 20-year lows. For gasoline, under current market conditions, BTU Analytics expects prices at the pump to remain stable this summer due to inventory remaining near the five-year average.

2 months ago | insight.factset.com | Mitch Jennings |Jamison Braun |Connor McLean |Katrina Abuls

Oil production in Guyana has grown exponentially since it started in 2019, booming from an average of 75 Mb/d in 2020 to 618 Mb/d in 2024. In December 2024, production reached an all-time high of 635 Mb/d, and by the end of the decade, oil production could more than double as a total of eight projects come online. ExxonMobil still has final investment decisions (FIDs) to make on its Hammerhead and Longtail projects, which are slated to come online near the end of the decade.

Mar 13, 2025 | insight.factset.com | Mitch Jennings |Lucas Caminiti |Katrina Abuls |Bailey Mclaughlin

Mexican president Claudia Sheinbaum Pardo gave a speech in early February focused on the country’s plans for expanding the National Electric System in 2025–2030. The speech and accompanying documents laid out 10 combined cycle plants to come online between 2025–2027, totaling 6.7 GW of incremental capacity. Another five combined cycle plants were mentioned as under consideration, which total an additional 3.4 GW of capacity, and would come online in 2028–2029.

Feb 25, 2025 | insight.factset.com | Matthew Hoza |FactSet Insight |Nate Miller |Mitch Jennings

Even as demand from data centers grows, weather remains a dominant factor affecting both gas and power markets across the United States. In Texas, the drop to frigid temperatures several times this winter has led to a significant increase in ERCOT prices, surging by an average of 20% compared to the previous year.

Jan 16, 2025 | insight.factset.com | Rachel Koch |Camille Buckley |Matthew Hoza |Mitch Jennings

The natural gas market in 2024 experienced significant volatility, with a mild winter that led to oversupplied storage, resulting in crashing prices and production curtailments. Despite strong summer power burn, LNG growth faced delays and the U.S. saw record net imports from Canada, resulting in over 3.97 Tcf of gas in storage exiting the summer. As we go further into 2025, the market’s path remains uncertain, but several key trends are expected to shape its trajectory.