US Oil Production Hits Record High Under Trump Administration
US oil production is expected to reach an all-time high of 13.8 million barrels per day this year, according to the Energy Information Administration's (EIA) August Short-Term Energy Outlook.
The EIA projects that the Lower 48 states will contribute 11.36 million barrels per day, the Gulf of America 1.98 million barrels per day, and Alaska 450,000 barrels per day - all higher than their 2025 production levels.
Global oil production in 2026 is expected to be down 4 million barrels per day from last year, with OPEC+ accounting for 28.99 million barrels per day (38.7%) and non-OPEC+, excluding the US, producing 32.11 million barrels per day (42.9%).
The EIA assumes that constraints on Strait of Hormuz transits will continue through August, with flows slowly increasing in September.