US Crude Oil Production on Track for Record High in 2026
US crude oil production is on track to reach an all-time high in 2026, according to the US Energy Information Administration (EIA). The agency forecasts that the country's average daily output will exceed 13.7 million barrels per day, surpassing the previous record set in 2025.
The Permian region, spanning Texas and New Mexico, is expected to drive much of this growth, with production averaging around 6.8 million barrels per day in 2026, a roughly 3% increase from 2025 levels.
Elevated global crude oil prices amid the ongoing conflict in the Middle East are attributed as a key factor behind this growth. Additionally, four new crude oil production projects are anticipated to come online before the end of 2026, further contributing to forecasted output gains.