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U.S. Oil Production Hits Record High Amid Price Decline

8/29/2025

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Summary

Story summary

U.S. crude oil production reached a record high of nearly 13.5 million barrels per day (MMb/d) due to improved drilling efficiency.
Natural gas output also set a record at 106 billion cubic feet per day (Bcf/d), with further increases expected in the Permian Basin by 2030.
Oil prices declined, with West Texas Intermediate (WTI) at $63.25 and Brent at $67.22, amid market concerns.
The International Energy Agency (IEA) warns of a potential record surplus in crude oil next year due to increased OPEC+ supply and slowing demand.

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Story summary

U.S. crude oil production reached a record high of nearly 13.5 million barrels per day (MMb/d) due to improved drilling efficiency.
Natural gas output also set a record at 106 billion cubic feet per day (Bcf/d), with further increases expected in the Permian Basin by 2030.
Oil prices declined, with West Texas Intermediate (WTI) at $63.25 and Brent at $67.22, amid market concerns.
The International Energy Agency (IEA) warns of a potential record surplus in crude oil next year due to increased OPEC+ supply and slowing demand.