US Oil and Gas Production Rises Amid Ongoing Iran War Uncertainty
The US oil and gas production in key producing states Texas, Louisiana, and New Mexico rose in the third quarter of 2026, according to a survey by the Dallas Fed.
The increase comes as US oil prices touch $100 a barrel due to the ongoing Iran war that has disrupted global supplies, affecting some production in the region and keeping key shipping routes largely shut.
An Exploration and Production survey respondent noted that predicting future market conditions is becoming increasingly challenging.
Respondents expect an average West Texas Intermediate (WTI) oil price of $88 a barrel by year-end 2026, with prices ranging from $70 to $126. They also anticipate a Henry Hub natural gas price of $3.29 per million British thermal units (MMBtu) at the same time.