Crude Oil Output Will Touch High, But Growth Will Be Slow

Our forecast of crude oil production in the United States reaches 13.2M barrels per day (B/D) in 2024 and more than 13.4M B/D in 2025, both of which would be new records, notes the EIA energy outlook. Arlan Suderman discusses this, as well as the outlook for crude oil futures in 2024. He talks about how the EIA thinks U.S. oil output will touch a record high in 2024, but growth will be slow. He also goes over how the API crude oil draw came in higher-than-expected. Tune in to find out more about futures and the stock market today.