Permian Basin output rose 3% to 6.8M b/d, though the Gulf of Mexico's production will fall to 1.89M b/d by 2027 from 2.0M b/d this year. Weekly output dropped to 13.68M b/d last week as Hurricane Isaias shut several platforms. Producers are prioritizing cash reserves over expansion amid below-normal flows through the Strait of Hormuz, with recent exports reaching 4.57M b/d and commercial stocks falling by 8.6M bbl.
Tuesday, October 20, 2026
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US Oil Growth Stalls Near Zero Despite Record 13.87M b/d Forecast
Commodities5 days ago
Crude oil production growth in the United States peaked at 0.4M b/d in April before sliding toward a halt in September. The Energy Information Administration projects that growth will turn slightly negative in October, even as annual output is forecast to average a record 13.87M b/d in 2026 and 14.3M b/d in 2027. US shale producers grew output by only 1.5% through the first eight months of the year despite West Texas Intermediate prices averaging $84, a 30% increase over the 2025 average of $65.
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