EIA Cuts 2026 Global Oil Production Forecast to 101.6M Barrels Per Day

According to the U.S. Energy Information Administration's annual energy outlook released in May 2026, global oil production is projected at 101.6 million barrels per day in 2026, down from a previous estimate of 104.3 million barrels per day. For 2027, the EIA maintained its forecast at 109.5 million barrels per day.
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