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EIA: US Oil Production to Peak by 2027 New York, 16 Apr (ONA) — US oil production will peak at 14 million
barrels per day in 2027 and maintain that level through the end of
the decade, before rapidly declining, the US Energy Information
Administration said.
Oil output from the world’s largest producer will fall to about 11.3
million bpd in 2050, from around 13.7 million bpd this year (2025), the
statistical arm of the US Department of Energy said in its Annual
Energy Outlook.
Meanwhile, the post-pandemic recovery in US oil demand will end
next year (2026), forecasts showed. Total product supplied, the EIA’s
measure of demand, will edge up from 20.51 million bpd this year to
20.52 million bpd next year, EIA data showed.
The EIA last week lowered its global oil demand growth forecasts
for this year (2025) and next, citing potentially weaker economic activity
due to an intensifying US trade war with China.
The agency also sharply cut its oil price forecasts and reduced
its outlook for US oil production growth for 2025 and 2026 as a
result of the demand uncertainty.— Ends/Khalid
