US Oil Production Forecast 4-9-25

The US uses Brent Crude to produce gasoline for cars.  Brent crude oil is a blended oil (a mix of brent, forties, oseberg and ekofisk) drilled from below the North Sea. It is popularly refined into diesel fuel and gasoline. In trading, Brent is one of the benchmarks for oil in the wider market, such as the Middle East, Europe and Africa. Brent crude oil, a light, sweet crude oil, is used to make gasoline, along with other petroleum products like diesel and jet fuel.  

The International Energy Agency (IEA) forecasts that the United States oil production will rise by 2.1 million barrels per day (bpd) above 2023 levels by 2030, reaching a total supply capacity of nearly 114 million barrels a day, which is 8 million bpd above projected global demand. 

The EIA forecasts that U.S. crude oil production will average 13.59 million barrels per day (bpd) in 2025, up from its prior estimate of 13.55 million bpd, and expects global oil markets to remain tight until mid-2025. 

Here's a more detailed breakdown:

EIA's Forecast: The U.S. Energy Information Administration (EIA) (.gov) now projects U.S. crude oil production to average 13.59 million bpd in 2025. 

Record Production: This forecast indicates that U.S. crude oil production will reach record highs in 2025. 

Gas Production: The EIA also projects dry gas production will rise from 103.2 billion cubic feet per day (bcfd) in 2024 to 105.2 bcfd in 2025. 

Global Oil Markets: The EIA anticipates global oil markets will remain tight through the middle of 2025 before gradually shifting to oil inventory builds later this year. 

OPEC+ Production: OPEC+ has announced plans to gradually increase production, starting in April 2025, which could lead to more comfortable crude balances in 2025. 

Demand: The EIA expects domestic petroleum and other liquid fuels consumption to rise to 20.5 million bpd in 2025. 

Natural Gas: Colder-than-expected weather in January and February led to higher natural gas consumption and significant withdrawals from storage, according to the EIA. 

Source: Google Search

Comments

US Oil Production can increase at an average of 1 million bpd per year. In 2025, US Oil Production is expected to be 13.59 million bpd. In 5 years, US Oil Production could be 18.59 bpd.

The Price of Crude Oil has dropped from $70 per barrel in March 2025 to $60 per barrel in April 2025. If demand remains flat, the price of Oil may reach $50 per barrel. This would put regular gasoline prices at under $3 per gallon.

Norb Leahy, Dunwoody GA Tea Party Leader