EIA hikes US oil output forecast, warns oversupply will slash prices
Yahoo Finance·2025-10-07 17:03
NEW YORK (Reuters) -U.S. oil production is expected to hit a larger record this year than previously expected, the Energy Information Administration said on Tuesday, even as the agency warned that a glut of oil will weigh on prices in the months ahead. The Department of Energy's statistical arm expects U.S. oil production to average 13.53 million barrels per day this year, up from its prior forecast of 13.44 million bpd. Oil output averaged 13.23 bpd last year, which was the prior record. The anticipated ...