EIA Raises U.S. Oil Output Forecast, Warns Oversupply Could Crush Prices ...Middle East

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EIA Raises U.S. Oil Output Forecast, Warns Oversupply Could Crush Prices
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The United States is on track to break yet another oil production record this year, but the Energy Information Administration (EIA) says the resulting supply glut could drag prices lower in the months ahead. In its October outlook, the EIA raised its forecast for U.S. crude production to 13.53 million barrels per day (bpd) for 2025, up from a forecast of 13.44 million bpd previously. That’s well above last year’s record 13.23 million bpd and reflects stronger-than-expected output in July, along with faster ramp-ups from new offshore…

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