Commodities
US Oil Production Forecast Revised Upwards for 2026 and 2027
The US Department of Energy's oil production forecast has been revised upwards by the Energy Information Administration (EIA). The agency now expects US oil production to reach 13.83 million barrels per day in the current year, a slight increase from its previous estimate of 13.8 million bpd.
The EIA also raised its forecast for next year, predicting that oil production will reach 14.26 million bpd in 2026, up from its previous estimate of 14.1 million bpd.
Meanwhile, the agency expects the price of Brent crude to fall next year, dropping from $91 per barrel to around $74 per barrel.