Outlook 2025: US oil production continues slow, steady growth
After hitting a high in 2019, output dropped during the Covid-19 pandemic, only to resume growth in 2021 and reach new highs. The US government expects 2.4% growth in 2025
In the eight years from 2016–24, US oil production (crude oil plus condensate from gas wells) has grown by 49.4%, according to US Energy Information Administration (EIA) data (see Fig.1). Indeed, the numbers show US output averaged just 8.85m b/d in 2016, grew by 3.5m b/d for three years through 2019, lost 1m b/d during the pandemic of 2020–21 and then topped out at 13.22m b/d in 2024. This remarkable record is spurred by shale activity as well as technological improvements in recovery from conventional wells. Accordingly, the EIA predicts US production will gain another 320,000b/d during 2025. A closer look at the numbers reveals the bulk of the increase is coming from the Permian Basin of
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
