We forecast that global crude oil production will increase by 0.8 million barrels per day (b/d) in 2026, with supply from Brazil, Guyana, and Argentina accounting for 0.4 million b/d of the expected global growth forecast in our December Short-Term Energy Outlook (STEO). Global crude oil production growth since 2023 has been driven by countries outside of OPEC+.
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12-17-2025
Our estimates for residential energy expenditures this winter (November 2025 through March 2026) have increased since the publication of our initial Winter Fuels Outlook forecasts in mid-October. We now expect a colder winter, and our retail energy price forecasts have risen, especially for natural gas and propane.
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12-15-2025
In our latest Short-Term Energy Outlook, we forecast U.S. crude oil production will average 13.5 million barrels per day (b/d) in 2026, about 100,000 b/d less than in 2025.
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12-12-2025
Critical minerals, such as copper, cobalt, and silicon, are vital for energy technologies, but most critical minerals markets are less transparent than mature energy markets, such as crude oil or coal. Like other energy markets, many supply-side and demand-side factors influence pricing for these energy-relevant critical minerals, but critical minerals supply chains contain numerous data gaps.
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12-10-2025
Higher average daily wholesale electricity prices between January and November 2025 may be improving the operational competitiveness of some natural gas- and coal-fired generators in the PJM Interconnection compared with the same period in 2024. PJM is the largest wholesale electricity market in the United States. The spark and dark spreads, common metrics for estimating the profitability of natural gas- and coal-fired electric generators, have both increased over the past two years.
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12-08-2025
