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Crude Oil May 14, 2025 07:57:11 AM

S&P Global Expects US Crude Oil Production to Decline in 2026

Anil
Mathews
OilMonster Author
However, the demand growth for the remaining quarters of 2025 is projected at around 420,000 barrels per day, it added.
S&P Global Expects US Crude Oil Production to Decline in 2026

SEATTLE (Oil Monster): According to a recent market update analysis from S&P Global Commodity Insights, the company anticipates a drop in U.S. crude oil production in 2026. Aside from the 2020 Covid-19 epidemic, this will be the first annual drop in U.S. production in almost ten years.

The analysis predicts that the anticipated supply excess and the feared slowdown in global oil demand due to uncertainty surrounding U.S. trade will affect U.S. oil production growth later this year, potentially leading to an annual fall in output in 2026.

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By 2025, S&P Global now projects that the world's oil demand will have grown to an average of 750,000 barrels per day. Compared to the previous projection, this is a huge decrease of 500,000 barrels per day. It said that the expected annual growth in demand was 1.75 million barrels per day. It did, however, add that the demand rise for the remaining quarters of 2025 is anticipated to be approximately 420,000 barrels per day.

The analysis projects that the average daily production in the United States will be 13.46 million barrels in 2025, before reverting to 13.33 million barrels in 2026.

The U.S. Energy Information Administration (EIA) also reduced its 2025 and 2026 crude oil output prediction in the most recent short-term energy outlook (STEO).


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