The US Energy Information Administration (EIA) projects that the United States will see record levels of crude oil and natural gas production this year, alongside unprecedented demand for natural gas and electricity.

This forecast comes from the agency’s latest Short-Term Energy Outlook (STEO) report, highlighting significant growth in energy output and consumption over the next few years.

The EIA anticipates crude oil production to average 13.61 million barrels per day (mbbl/d) in 2025, climbing to 13.76 mbbl/d in 2026.

These figures surpass the 13.22 mbbl/d forecast for 2024 and exceed the previous month’s estimate for 2025, which was 13.5 mbbl/d.

Domestic petroleum and other liquid fuels consumption is also on the rise, projected to reach 20.5 mbbl/d in 2025 and 20.6 mbbl/d in 2026, up from 20.3 mbbl/d in 2024.

These levels approach the record high of 20.8 mbbl/d set in 2005.

The EIA projects a significant increase in dry natural gas production, climbing from 103.2 billion cubic feet per day (bcf/d) in 2024 to 105.2 bcf/d in 2025, and further to 107.5 bcf/d in 2026. This would exceed the previous record of 103.6 bcf/d in 2023.

Domestic gas consumption is also expected to reach new heights, rising from a record 90.4 bcf/d in 2024 to 92.0 bcf/d in 2025, before slightly declining to 91.1 bcf/d in 2026.

Electricity demand in the US is expected to follow a similar upward trend, with the EIA predicting record consumption levels in both 2025 and 2026.

This growth is attributed to increased electricity usage in data centres, homes, and businesses, particularly for heating and transportation.

Power demand is projected to rise to 4.22 trillion kilowatt-hours in 2025 and 4.28 trillion kilowatt-hours in 2026, up from a record 4.1 trillion kilowatt-hours in 2024.

These projections highlight a period of significant growth in the US energy sector, with both production and consumption reaching unprecedented levels in the coming years.