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EIA sees US oil output and power demand both hitting records

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EIA sees US oil output and power demand both hitting records

6 sourcesUpdated Nov 11, 20261 min read

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EIA sees US oil output and power demand both hitting records — © IJR

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The U.S. Energy Information Administration expects domestic crude oil production to reach a fourth straight annual record in 2026, averaging 13.9 million barrels per day, and rise to 14.3 million in 2027. Brent crude is forecast to average $97 a barrel in 2026 before easing to $86 in 2027; U.S. diesel and gasoline prices are projected to average $5.03 and $3.73 per gallon, respectively, in 2027. Separately, U.S. electricity demand is forecast to set records in both 2026 and 2027, reaching 4,306 billion kilowatt-hours and 4,370 billion kilowatt-hours, driven largely by AI data centers and the increased use of electricity for heating and transportation. The EIA also expects renewables’ share of generation to grow to 28% by 2027, while coal’s share falls to 15%; natural gas and nuclear are projected to provide 39% and 18%, respectively.

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Nvidia Probes Reported Chinese Spy Effort Targeting Huang

Nvidia is tightening controls on its AI chips reaching China through Southeast Asian intermediaries, including monitoring requirements for some cloud partners and reported limits on the share of computing capacity rented to Chinese customers. A new Democratic-led Congress is also expected to press the company over whether it is doing enough to prevent restricted chips from reaching China and other U.S. adversaries.

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U.S. authorities and Nvidia are examining allegations that Alice Huang, a former Megaspeed executive suspected by officials of ties to Chinese intelligence, used her relationship with CEO Jensen Huang to gather information, while investigations have also scrutinized whether Megaspeed helped divert restricted Nvidia chips to China. Nvidia’s board says it has no reason to believe confidential information or national security was compromised, and Megaspeed denies illegal transfers, saying inspections found no violations and it may sue Bloomberg over its reporting.

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Nvidia Probes Huang Affair and China Intelligence Allegations

Three House Republican committee leaders are seeking a closed-door briefing from Nvidia CEO Jensen Huang about his ties to Megaspeed executive Alice Huang, whom reports say is under investigation for allegedly passing information to China. They also want details on Nvidia’s safeguards against foreign espionage; Nvidia says Jensen Huang’s meetings involved only general business discussions and that it follows U.S. rules.

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