Global Crude Oil Production Set to Reach 74.89 Million Barrels Per Day in 2026

The US Energy Information Administration (EIA) has forecast that global crude oil production will reach 74.89 million barrels per day in 2026, according to its Short-Term Energy Outlook.

This is based on quarterly production forecasts which show the average daily output at 77.27 million barrels in Q1 2026, decreasing to 71.27 million barrels in Q2 and then increasing again to 73.96 million barrels in Q3 before finishing the year at 77.08 million barrels.

In 2027, the EIA predicts a further increase in production, forecasting an average of 81.27 million barrels per day.