The Energy Information Administration predicts global supply will outstrip demand growth over the next two years, causing falling prices in the oil market.
While production growth in the Permian Basin will be significant, EIA suggests it will be offset by declines in other regions, showcasing a complex market picture ahead.
The potential impacts of Trump’s regulatory changes and international sanctions on Russia and Iran introduce uncertainty into the energy market forecasts.
The expected production growth in the Permian Basin, projected to exceed 50% of U.S. output by 2026, marks a significant shift in American oil production dynamics.
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