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The U.S. exports natural gas to Mexico via pipeline. The volumes exported reached a record 7.3 billion cubic feet per day (bcf/d) in June. Meanwhile, Mexico’s domestic natural gas production in 1H25 was down 27% compared with 1H24 and reached a >20-year low. U.S. natural gas currently meets ~75% of Mexico’s natural gas demand, up from 39% in 2015. Mexico uses natural gas to generate >60% of its electricity. So far in 2025, 28% of U.S. natural gas exports have gone to Mexico. It is only recently that U.S. LNG export volumes to the EU have surpassed pipeline exports to Mexico.
The U.S. exported more than 880 thousand barrels of oil equivalent per day of oil and natural gas to India in June, a 17% year-over-year increase. This included record levels of NGL and petroleum product exports, driven by ethane, propane, butane, and petroleum coke.
The U.S. began exporting LNG from the Lower 48 states in 2016 and became the world’s largest LNG exporter within seven years. According to the U.S. EIA and press reports, U.S. LNG export nameplate capacity could grow by a further ~85% by late-2029 to ~30 bcf/d with the addition of projects that have reached final investment decision (FID).
Electric-drive vehicles, including hybrid electric, plug-in hybrid electric, and battery electric vehicles, now account for nearly 22% of U.S. light-duty vehicle sales. Their share of new sales has more than doubled since 2021. The Inflation Reduction Act (IRA) introduced and modified tax credits for the purchase of plug-in hybrid and battery electric vehicles, which will now expire at the end of September 2025. However, while hybrid electric vehicles were not eligible for the same tax incentives, they have led the growth in the electric-drive vehicles’ market share over the past couple of years.
In 2024, EVs consumed 11.7 million megawatt-hours (Mwh) of electricity in the U.S., increasing 55% year-on-year. California had the highest electricity demand for EVs at 3.6 million Mwh, accounting for 31% of all U.S. EV-related electricity demand. While EV electricity demand has been growing rapidly, it still represents a very small portion of overall electricity demand. In 2024, EV-related electricity demand represented only 0.3% of total U.S. electricity sales and 1.5% of electricity sales in California.
According to the Bureau of Labor Statistics (BLS), non-retail oil and natural gas sector employees made an average of $135,000 in 2024, which is 77% higher than the U.S. average annual pay. Within the sector, oil and natural gas extraction workers earned the highest average salary of $215,000.
U.S. LNG has played an increasingly important role in Europe’s energy mix with the U.S. accounting for 27% of the EU’s total natural gas imports in 2Q25, up from 4% in 2019. The U.S. is the largest LNG supplier to the bloc, accounting for 58% of LNG imports in 2Q25. At the same time, Russia’s share of the EU’s natural gas imports fell to 11% in 2Q25, down from 51% in early 2019. Europe has also become the largest destination for U.S. LNG with a record 67% headed to the EU and UK between January and April 2025, up from 37% in early 2019.
Energy Institute data shows consumption levels for all major energy sources reached record levels in 2024, including oil, natural gas, coal, nuclear, hydroelectricity, solar, wind, biofuels, and other renewables. This is the first time this has happened concurrently across all major energy sources since 2006. Oil remains the world’s largest energy source, meeting 34% of global demand. Global energy demand rose by 12 EJ (2%) year-on-year with China and India accounting for nearly 50% of the growth. Meanwhile, natural gas grew the most of the energy sources, accounting for a third of the total increase.
The U.S. accounted for 49% of global natural gas liquids (NGLs) production in 2024 and produced more than four times the amount of the second largest producer, Saudi Arabia. Production in the U.S. has more than doubled since 2015, with the rapid expansion of ethane and propane. NGLs are found in raw natural gas streams and are extracted at processing plants before the natural gas is marketed. Together, ethane and propane represent 72% of U.S. NGL production. Propane is commonly used as a feedstock in petrochemical plants to make plastics or as a fuel for heating or drying. Ethane is primarily used as a petrochemical feedstock. Record production has also helped support rising U.S. exports of propane and ethane.
U.S. net crude oil imports have fallen as domestic crude oil production has grown. Since 2014, the U.S. has produced more crude oil than it has imported on a net basis. Over the past decade, domestic crude oil production has grown by 50% while net crude oil imports have fallen by 65%. Rising domestic production has helped the U.S. become less reliant on imported crude oil, particularly from the Middle East. In 2024, only 8% of U.S. crude oil imports came from Persian Gulf countries, down from 25% in 2014.
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