Energy Preview: US crude oil production to hit record high in 2025

The US crude oil production is expected to hit a record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. It expects U.S. oil output to average 13.59 million barrels per day this year and then drop marginally to about 13.58 million bpd next year.

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