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US Oil Production to Decline for First Time Since 2021

6/11/2025

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Summary

Story summary

US oil production is set to dip in 2026, falling to 12.96 million barrels per day—the first annual decline since 2021. S&P Global attributes this downturn to sluggish global oil demand growth, which is likely to push prices down. However, a modest production rise is anticipated in the US outer continental shelf during 2025 and 2026.

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Story summary

US oil production is set to dip in 2026, falling to 12.96 million barrels per day—the first annual decline since 2021. S&P Global attributes this downturn to sluggish global oil demand growth, which is likely to push prices down. However, a modest production rise is anticipated in the US outer continental shelf during 2025 and 2026.