The U.S. raised its forecast for domestic oil production next year after the recent surge in prices due to supply disruptions from key Middle East countries. U.S. crude output is now expected to grow by 220,000 barrels a day in 2027 to 13.83 million barrels a day, according to the Energy Information Administration’s short-term energy outlook released Tuesday.
The new forecast represents an increase of about 500,000 barrels from the agency’s previous projection made in February. Read more from Bloomberg. A subscription may be required.
