US crude oil production averaged 13.53 million barrels per day in Q1 2026, with an expected rise to 13.65 million b/d in Q2. Despite record-high oil exports, shale producers are reluctant to increase upstream activity, focusing on free cash flow generation. The EIA projects production to average 14.10 million b/d in 2027, but low gas prices in the Permian Basin are challenging well economics.
Sign in to access complete coverage, AI analysis, and related companies.
Sign In to Continue