Story perspectives
Crude Futures Rebound as EIA Cuts 2025 Oil Forecast
5/7/2025
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Story summary
- Crude futures recover following recent declines.
- Diamondback Energy's CEO indicates slowing activity and reduced production amid low prices.
- EIA lowers 2025 U.S. oil production forecast to 13.4 million barrels per day from 13.5 million.
- The 2025 forecast exceeds the expected 2024 production of 13.2 million barrels per day.
- Recent price drops contribute to diminished production growth expectations, according to EIA.
