US crude oil output hits record 14.013 million barrels per day

US crude oil production rose by 10,000 barrels per day from the previous week to a record 14.013 million barrels per day in the week ended November 6.

Report informs, citing the US Energy Information Administration's weekly report, that production stood at 13.862 million barrels per day in the same week a year earlier. Output averaged 13.819 million barrels per day over the latest four weeks.

In its Short-Term Energy Outlook published on November 10, the EIA lowered its forecast for average US crude oil production in 2026 to 13.86 million barrels per day from 13.87 million.

The agency kept its 2027 forecast unchanged at 14.3 million barrels per day, which would set a new annual record.