U.S. Crude Oil Output May Decline After Record Levels
U.S. Crude Oil Output May Decline After Record Levels
Lower prices expected to slow drilling and reduce future oil production
U.S. crude oil production is expected to remain near record levels in 2026 before declining in 2027, according to the January 2026 Short Term Energy Outlook. If this forecast holds, it will mark the first annual decline in US crude oil output since 2021.
Production reached a record average of 13.6 million barrels per day in 2025. Output is forecast to stay close to that level in 2026 before falling by about two percent to 13
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