EIA: U.S. Crude Oil Production to Average 13.2 million bpd in 2024

The U.S. Energy Information Administration (EIA) released its June 2024 Short-Term Energy Outlook (STEO) today. The EIA expects U.S. crude oil production to average 13.2 million barrels per day (b/d) in 2024—an increase of 2% from 2023 levels. The EIA sees U.S. crude oil production averaging 13.7 million bpd in 2025. The increase in production will be led by the Permian, according to the EIA, and Eagle Ford. This production outlook remains unchanged from the May version of the Short-Term Energy Outlook. Meanwhile, weekly U.S. crude oil production…