EIA expects bigger US oil output record this year, warns of oversupply
ReutersOct 7, 2025 4:21 PM
NEW YORK, Oct 7 (Reuters) - U.S. oil production is now expected to hit a larger record of 13.53 million barrels per day this year, up from a prior forecast of 13.44 million bpd, the Energy Information Administration said on Tuesday.
The Department of Energy's statistical arm also said it expects global oil inventories to rise through next year as non-OPEC+ countries lead oil output growth, putting significant downward pressure on commodity prices in the months ahead.
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