US to produce less oil in 2025 than previously expected, EIA says

NEW YORK, July 8 (Reuters) - The U.S. will produce less oil in 2025 than previously expected as declining oil prices have prompted U.S. producers to slow activity this year, the Energy Information Administration forecasted on Tuesday in a monthly report.

The U.S. is projected to produce 13.37 million barrels per day of oil in 2025, versus last month's forecast of 13.42 million bpd, the EIA said. In 2026, the U.S. will produce 13.37 million bpd, in line with the previous forecast.