Commodities
US Oil Production Growth to Slow More Than Expected in 2025
- Output seen growing 2.4% in 2025 versus prior estimate of 3.2%
- Report adds to chorus of calls for oversupplied market
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The US expects crude production to grow by just 320,000 barrels a day next year, much slower than previously estimated.
While output is still poised to reach a record of 13.54 million barrels a day, the annual rate of growth is now projected at 2.4% versus 3.2%, the Energy Information Administration said in its Short-Term Energy Outlook Tuesday. The slowdown comes after a surprise bumper increase last year.