EIA Says U.S. Oil Production Will Peak in 2027

U.S. crude oil production is set to peak at around 14 million barrels per day (bpd) in 2027, according to the Annual Energy Outlook 2025 of the U.S. Energy Information Administration (EIA). U.S. oil production is set to remain around the 14 million bpd level by 2030 and in the early 2030s, after which it is expected to decline faster through 2050 as the shale boom fades. Shale-only oil production in the United States will also peak in 2027, the EIA’s outlook says. In two years, shale output would hit its record of 10 million bpd, up from…