Thursday, June 12, 2025

US Oil Output Set for First Annual Drop Since Pandemic

US oil production will fall next year for the first time since the Covid-19 pandemic, according to a government forecast that will cast new doubt on Donald Trump's "energy dominance" agenda.

Posted by qcp at 11:31 AM | 19 COMMENTS | permalink

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Oil prices surge on fears of escalation in the Middle East https://www.ft.com/content/5df91895-5de2-4d4e-a2d2-b41bc1c2bda3

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-- Financial Times (@financialtimes.com) Jun 11, 2025 at 4:37 PM

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More: "With fewer active drilling rigs, we forecast US operators will drill and complete fewer wells through 2026," the EIA said in a monthly report published on Tuesday. Active rigs had "decreased by much more" than it expected in a previous report, it said.

The gloomy official forecast comes just months after Trump was re-elected following a presidential campaign in which he vowed to "unleash" American drilling, promote more oil production, and drive down energy prices.

#1 | Posted by qcp at 2025-06-11 08:45 AM

OPEC+ has ramped up production so there should be plenty of oil.

#2 | Posted by REDIAL at 2025-06-11 09:10 AM

Heckuva job, Fat Boy.

#3 | Posted by LegallyYourDead at 2025-06-11 11:17 AM

"Lie, Baby, Lie!"

#4 | Posted by Corky at 2025-06-12 11:41 AM

I guess it's not really a that much of a surprise since rising oil prices help Russia most of all.

#5 | Posted by qcp at 2025-06-12 11:43 AM

Um, Reps warned ALL OF YOU that oil output was in jeopardy because of Biden's policies. Now you are somehow trying to blame Trump is trying to undo those policies? He couldn't do it via EO because liberals whine and cry about them (but seem to love them when Dems use them), which means he has to do it the traditional way which takes a freaking long time with our government. This is Government 101. But, the one thing that can't be disputed at all based on the facts and reality is that oil production was estimated to fall much more than it already is due SOLELY because of Biden. I'm not even saying that's good or bad. It makes sense to curb oil and make more regulations regarding its processing. There is no bias here. And when you get rid of the bias, what you have left is that Biden and most Dems want oil to be gone while Reps want oil to flow freely...and yet liberals are trying to blame Reps for the downturn.

#6 | Posted by humtake at 2025-06-12 12:10 PM

#6

Now you've gone and twisted yourself up like a pretzel. That's gotta be painful.

#7 | Posted by Whatsleft at 2025-06-12 12:34 PM

The near-term contract for US benchmark West Texas Intermediate is at $68.16 as I write this, down 15% from its 2025 high (on January 15) of $80.

One thing I've learned by living in Okiehomie is that all the easy oil has been found and developed. What is coming out of the ground from new wells is much more expensive to develop. Oil producers are NOT going to develop wells where the cost of that oil is higher than the market-clearing price. What the market is telling us is that demand for oil is slackening, so the price is falling, and has passed the point of profitability for many wells, so production is also slowing. No one is going to sell oil for less than it costs to get it to market. No one. This is not about Biden's policies, it's about the market. Sad to think that the head of our government knows so little about math and economics that he says things with such surety that his mouth-breathing followers believe him, yet then cannot understand when facts make a liar or a fool out of the fat orange criminal insurrectionist and golf cheat...

#8 | Posted by catdog at 2025-06-12 01:34 PM

since the pandemic... so yeah... returning to the land of when Trumpanzee was running things...

Clowns are going to pretend prices have never been there...

You know they sold the nation's largest oil refinery to the Arabs?

#9 | Posted by RightisTrite at 2025-06-12 01:37 PM

Sad to think that the head of our government knows so little about math and economics

Funny that he was lobbying Saudi and OPEC to increase production to drive prices down (for which he takes full credit), and as a result tanks his whole "Drill, baby drill" plan for energy independence.

And what happened to filling the SPR? So far this year it's rising slower than it was last year.

#10 | Posted by REDIAL at 2025-06-12 01:44 PM

oil output was in jeopardy because of Biden's policies.

#6 | POSTED BY HUMTAKE A

Really, where do you get this crap?

#11 | Posted by Zed at 2025-06-12 02:22 PM

| POSTED BY HUMTAKE

You live in your own little. nasty, lying world.

It's not worth anyone's while to refute your ignorance with facts.

Get off your own ass and do it lest you also be labeled lazy.

#12 | Posted by Zed at 2025-06-12 02:24 PM

It's not worth anyone's while to refute your ignorance with facts

Does anyone really read DumbTake's posts?

The moron has never writing anything worth reading or responding to.

Never.

#13 | Posted by ClownShack at 2025-06-12 02:38 PM

The trolls would disappear if you all stopped feeding them.

#14 | Posted by qcp at 2025-06-12 02:47 PM

If you use your ass as a repository for your "facts," this is what you get.

#15 | Posted by john47 at 2025-06-12 03:17 PM

Um, Reps warned ALL OF YOU that oil output was in jeopardy because of Biden's policies.

US oil production increased every year Biden was in office, only for it to fall four months into Trump's administration. Was that the decrepit, senile, autopen Biden? Or the evil political genius Biden? Republicans seem to dance back-and-forth, as it suits whatever dumb argument they are presenting at the time.

And, btw, Trump was POTUS the last time US oil production fell. And the time before that? GWB.

Too bad Huge(du)mass will never learn to interpret actual information or data, only just what his morally corrupt representatives tell him.

LOL.

#16 | Posted by horstngraben at 2025-06-12 04:47 PM

Lower fuel prices are good for the economy. As for investors, if holding good companies like Exxon Mobil, and when stock prices drop it is a buying opportunity. Back around 2020 XOM was about 35 dollars a share and I bought big time, and current price is around $109.00 a share : )

#17 | Posted by MSgt at 2025-06-12 11:33 PM

MSGT seems to be in full defensive mode today. Gonna be a long 4 years for those guys. LOL.

#18 | Posted by REDIAL at 2025-06-12 11:38 PM

Lower fuel prices are good for the economy.

Clean renewable energy would be so much better.

However good a drop in oil prices are to the economy, they wreak havoc on the independent drillers driving many of them into bankruptcy.

So much winning.

#19 | Posted by Nixon at 2025-06-13 08:24 AM

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