US crude oil production has entered a period of decline warns the US Energy Information Administration (EIA) in its latest Short Term Energy Outlook (STEO). The EIA is the latest entity to ring the alarm bell over the US crude production outlook in the wake of the post-‘Liberation Day’ oil price fall.
“We forecast U.S. crude oil production will decline from an all-time high of 13.5 million barrels per day (b/d) in the second quarter of 2025 (2Q25) to about 13.3 million b/d by 4Q26 because of decreasing active drilling rigs and declining oil prices,” notes the EIA in the latest STEO, published 10 June. (CONTINUED – 1081 WORDS)
Read this article for free
Gain access to over 60-years of energy analysis and news
-
Delve into the details backed by data
-
Exclusive information from high-level officials
-
Assess future risks and opportunities
