RSS feed source: US Energy Information Administration
In-brief analysis
November 19, 2025
In our latest Short-Term Energy Outlook, we forecast crude oil produced from Alaska will reach 477,000 barrels per day (b/d) in 2026, the most since 2018. After decades of decline, we expect a 13% (55,000 b/d) increase in Alaska oil production, the largest annual increase since the 1980s. The recent growth is attributable to two projects on Alaska’s North Slope: The Nuna project, owned by ConocoPhillips, started production in December 2024 and is expected to produce 20,000 b/d at its peak. In August 2025, the project produced 7,000 b/d, offsetting existing production declines. The Pikka Phase 1 project, jointly owned by Santos and Repsol, is expected to start production during the first quarter of 2026 and reach peak production of 80,000 b/d by mid-2026, nearly 20% of total Alaska oil production in
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