BAKU, Azerbaijan, April 15. The growth in US crude oil production is expected to slow down slightly to 350,000 b/d in 2025, compared to 380,000 b/d this year, Trend reports.
According to the International Energy Agency (IEA), in January, the total supply of oil in the US took a significant hit, dropping by 1.3 mb/d compared to the previous month. This decline, down to 18.7 mb/d, was largely attributed to the severe winter storm named Heather, the agency explains. Of this, 760,000 b/d accounted for crude oil, while 510,000 b/d were NGLs.
Similarly, the growth in NGLs is forecasted to ease to 200,000 b/d from 275,000 b/d in 2024.
The impact of the weather was more severe than initially estimated. Consequently, the January numbers have been adjusted downward by 820,000 b/d in this month’s report, with additional reductions of 130,000 b/d in February and 180,000 b/d in March.
Despite these setbacks, the forecast for US oil output remains optimistic. It is projected to increase by 650,000 b/d to reach 20.1 mb/d for the entire year. Looking ahead to next year, an additional increase of 540,000 b/d is anticipated, pushing total oil supplies to 20.6 mb/d.