Back to today’s briefing

Story perspectives

U.S. Oil Production to Surge, Prices Expected to Plummet

1/23/2025

32 7

Summary

Story summary

Crude oil production in the U.S. is set to rise, averaging 13.55 million barrels per day in 2025 and reaching 13.62 million in 2026. However, as production increases and demand slows, Brent crude prices are projected to drop from $81 per barrel in 2024 to $66 by 2026, impacted by geopolitical dynamics.

History

Historical Context

U.S. crude oil production is rising, echoing the 1970s when production peaked amid geopolitical tensions. The 1979 energy crisis spurred deregulation, leading to increased output. Today, rising production faces demand challenges, reminiscent of past market fluctuations driven by geopolitical dynamics and economic shifts.

1 of 2

Story summary

Crude oil production in the U.S. is set to rise, averaging 13.55 million barrels per day in 2025 and reaching 13.62 million in 2026. However, as production increases and demand slows, Brent crude prices are projected to drop from $81 per barrel in 2024 to $66 by 2026, impacted by geopolitical dynamics.

1 / 2