Story perspectives

Dallas Fed sees peak activity; U.S. oil output up 2-3%

6/26/2026

Summary

Oil Execs Anticipate Rise

U.S. oil executives expect production to rise 2%–3% at prices, per a Dallas Federal Reserve (Fed) Bank survey.
The Dallas Fed Energy Survey (June 9–17) recorded the business activity index rising to 46.1, the highest since Q2 2022.
Oilfield services firms saw input-cost and operating-margin indices climb to 64.4 and 52.2.
Production firms reported the oil-production index rise to 15.0 and West Texas Intermediate crude trade around $70 a barrel.

Summary

Firms Raise Capex

Capital expenditures index jumped from 21.2 to 40.9 in Q2, with 49 % of firms increasing spending.
Expected capex index fell to 0, indicating caution on long-term investment.
Supplier delivery-time index rose from 4.5 to 31.7, with 36 % of firms seeing longer lead times.
Respondents forecast WTI at $81 per barrel by end-2026 (range $60-$150) and Henry Hub gas at $3.36 per MMBtu, with spot averages of $87.27 per barrel and $3.15 per MMBtu.

Summary

Trump Unleashes Energy

White House spokeswoman Taylor Rogers said President Donald Trump is rolling back “burdensome Biden regulations” to “unleash American energy.”
Executives claim the White House’s erratic statements on the Iran war are sowing market confusion and hindering planning.
The Dallas Federal Reserve (Fed) survey ran June 9-17, overlapping the June 17 memorandum ending U.S.–Iran hostilities.
West Texas Intermediate fell below $70 a barrel on Wednesday, its first sub-$70 close since March 4.

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Oil Execs Anticipate Rise

U.S. oil executives expect production to rise 2%–3% at prices, per a Dallas Federal Reserve (Fed) Bank survey.
The Dallas Fed Energy Survey (June 9–17) recorded the business activity index rising to 46.1, the highest since Q2 2022.
Oilfield services firms saw input-cost and operating-margin indices climb to 64.4 and 52.2.
Production firms reported the oil-production index rise to 15.0 and West Texas Intermediate crude trade around $70 a barrel.

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