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In-brief analysis

April 16, 2025

U.S. crude oil production grew by 270,000 barrels per day (b/d) in 2024 to average 13.2 million b/d, according to our Petroleum Supply Monthly. Almost all the production growth came from the Permian region.

Our Short-Term Energy Outlook (STEO) breaks out U.S. Lower 48 (L48) crude oil production data for the Appalachia, Bakken, Eagle Ford, Haynesville, and Permian regions, in addition to reporting Alaska and Gulf of America production data. For crude oil production, the Permian, Eagle Ford, and Bakken are the most prolific production regions, accounting for almost two-thirds of total U.S. production.

In 2024, the Permian region in western Texas and southeastern New Mexico produced more crude oil than any other region, accounting for 48% of total U.S. crude oil production. Permian region production also accounted for almost all

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In-brief analysis

April 15, 2025

U.S. energy consumption decreases in the next several years before increasing again in the early 2040s through 2050, according to our recently published Annual Energy Outlook 2025 (AEO2025). U.S. energy consumption in 2050 is lower than in 2024 in most of the scenarios we explore in AEO2025, but the range of outcomes varies significantly based on the underlying assumptions.

For AEO2025, we made significant updates to the model that underpins the results, adding a hydrogen market module; a carbon capture, allocation, transportation, and sequestration module; and an enhanced upstream oil and natural gas resources module. We also enhanced many existing modules to better reflect market dynamics and emerging technologies.

Our policy assumptions are central to understanding our AEO2025 projections. In most of the cases we modeled, we only considered laws and

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In-brief analysis

April 14, 2025

In our April Short-Term Energy Outlook, we forecast U.S. annual natural gas production from the Eagle Ford region in southwest Texas will grow from 6.8 billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d in 2026. The increase in natural gas production comes as natural gas prices rise and demand for liquefied natural gas exports grows. Oil production in the Eagle Ford, on the other hand, has hovered around 1.1 million barrels per day (b/d) since 2020, and we forecast it will remain about the same through 2026.

This increase in natural gas production with stable oil production in the Eagle Ford region is a result of increasing gas-oil ratios. As more oil and natural gas are produced, pressure within the reservoir declines, allowing more natural gas relative to oil

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In-brief analysis

April 10, 2025

U.S. crude oil exports in 2024 surpassed the previous record set in 2023, exceeding an annual average of 4.1 million barrels per day (b/d). Despite this new record, crude oil export year-over-year growth slowed to 1% in 2024, compared with 14% in 2023 and 21% in 2022.

Crude oil production in the U.S. Lower 48 (L48) states, which does not include Alaska or offshore production, reached a record in November 2024, allowing for a greater supply of crude oil to export. Increased production efficiency counteracted a decrease in the number of active oil rigs, resulting in L48 production increasing 3% last year. Unlike in the L48 states, production in Alaska and offshore in the Gulf of America decreased last year because of natural declines in both areas and because of disruptions to

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