Dallas Fed Survey: Oil and Gas Production Rise Amid Fluctuating Prices

A recent survey by the Federal Reserve Bank of Dallas found that oil and natural gas production increased in the third quarter among companies in Texas, southern New Mexico, and northern Louisiana. This marks the second consecutive quarter of higher production volumes. The average closing price of US WTI crude was around $86 per barrel during this period, with prices fluctuating between $67 and $107 per barrel.

The survey also found that respondents expect WTI to average $88 per barrel by the end of 2026, with individual forecasts ranging from $70 to $126. However, expectations for future capital expenditures are weaker, with a projected spending index standing at zero in the second quarter.