US output of oil and other petroleum liquids rose by 700,000 b/d to a new record of 20.13mn b/d for 2024, according to the latest EIA stats which project a growth slowdown to 370,000 b/d for both 2025 and 2026 (see chart 1).
Key Americas Producers Set To Lead Global Output Gains For 2025
US output growth is slowing, and will continue to do so despite Trump’s ‘drill baby drill’ rhetoric. But the country is still set to lead global gains for 2025. Fellow Americas producers Guyana, Brazil and Argentina will also post strong gains. But for Canada, which until recently also looked nailed on for substantial growth, the picture is murkier.
Read this article for free
Gain access to over 60-years of energy analysis and news
-
Delve into the details backed by data
-
Exclusive information from high-level officials
-
Assess future risks and opportunities
IN THIS ARTICLE
Charts
1: US Liquids Output Topped 20mn b/d For The First Time In 2024 With The EIA Forecasting* Further Growth Of Almost 400,000 B/D For Both 2025 And 2026 (mn b/d)
2: Brazil’s Crude Output Dipped From 2023’s Record Levels For 2024...
3: ...With Every Month From July Below The Records Of 3.5-3.7mn B/D Hit In 2h23 (mn b/d)
REFERENCED MEES ARTICLES
RELATED ARTICLES
Get Our Headlines Weekly
Keep abreast with current events with our weekly headlines.
You’ll also be notified of our free articles & maps.
By signing up, you agree to receive promotional emails. You can unsubscribe at any time. For more information, read our privacy statement.