US Crude Oil Production Set for Record High in 2026

The United States is on track to set a new record for crude oil production in 2026, according to the U.S. Energy Information Administration (EIA). The EIA forecasts that US crude oil production will average 13.8 million barrels per day (b/d) in 2026, surpassing the previous record of 13.7 million b/d set in 2025.

The Permian region in Texas and New Mexico is driving this growth, with forecasted production averaging 6.8 million b/d in 2026, a 3% increase from last year. Higher crude oil prices have supported oil-directed drilling in the area, with West Texas Intermediate (WTI) crude oil prices rising to an average of $84 per barrel through August 2026.

The Federal Gulf of America is also seeing increased production, with a 10% rise in 1H26 compared to the same period last year. This growth is largely due to new projects coming online, including four major facilities that have started operating since July 2025.