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US coal production is forecast to decline by 6.74% year on year to 552.3 million short tons or 501 million tonnes in 2023, according to the latest Short-term Energy Outlook from the Energy Information Administration (EIA) on March 7.
The figure is significantly higher than the 518 million short tons estimated in the previous month.
The report predicts the production to fall further by 9% in 2024 to 502.6 million short tons.
The country is expected to consume 440.9 million short ton of coal in 2023, tumbling 14% year on year. Of that, coal consumption in the power sector is estimated to fall 14.4% to 402.4 million short tons, and the retail and other sectors are expected to use 22.8 million short tons or 15.2% less on a yearly basis.
The consumption is forecast to tick down very slightly by 0.4% year on year to 439.1 million short tons in 2024, with 400 million short tons burned by power sector and 22.4 million short tons needed by retail and other sectors.
The report shows US energy-related carbon dioxide emissions in 2023 are going to drop 3.56% compared with 2022, with the larger 14% reduction contributed by coal burning. Yet, the emissions are estimated to rebound slightly by 0.63% in 2024.
The United States is expected to increase its coal exports to 91.5 million short tons in 2023, 7.9% higher from 2022, with thermal coal exports picking up nearly 12% to 43 million short tons, and metallurgical coal exports rising mildly by 4.31% to 48.4 million short tons, according to the EIA.
Coal exports in 2024 are likely to continue increasing to 101.7 million short tons, up 11.15% over this year, consisting of 47.9 million short tons of thermal coal and 53.8 million short tons of metallurgical coal.
(Writing by Shengnan Liu Editing by Harry Huo)
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