US Oil Production Shatters Records: What It Means
Update: 2025-10-07
Description
US oil production is shattering records, hitting 13.5 million barrels a day, exceeding all expectations! But this surge is happening amidst fears of a global oil glut, pushing prices down. West Texas Intermediate is averaging $65 a barrel, while Brent crude sits at $69, both down 15% from last year. Surprisingly, the Gulf of Mexico is a major driver, exceeding production forecasts thanks to policy changes. Will this record output lead to a price crash?
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