Commodities
Permian Basin Drives US Toward Record Crude Oil Production in 2026
The US is on track to break its own record for crude oil production in 2026, according to the latest forecast from the U.S. Energy Information Administration.
The Permian Basin and federal Gulf of America are driving this growth, with the Permian alone expected to average 6.8 million barrels a day in 2026, up 3% from last year.
Higher crude oil prices have supported increased drilling, leading to production growth this year, with West Texas Intermediate prices averaging $84 a barrel through August 2026, up from an average of $65 a barrel in 2025.