US crude oil production stands at 13.8 million barrels per day, according to the latest weekly data. That figure keeps the United States near its all-time output highs and reinforces its position as the world's largest oil producer. Production at this level reflects continued activity across major basins including the Permian in Texas and New Mexico, where drilling remains the backbone of domestic supply.
Output fell by 9,000 barrels per day compared to the previous week, a modest decline that is unlikely to raise concern on its own. Week-to-week fluctuations of this size are common and can result from routine factors such as weather, maintenance schedules, or minor reporting adjustments. One week of slight softening does not indicate a trend, but sustained declines over multiple weeks would draw closer attention from analysts tracking whether producers are pulling back in response to lower prices.
West Texas Intermediate is trading at $71.87 per barrel, while Brent crude sits at $71.59 per barrel. The two benchmarks are nearly at parity, with WTI trading just 28 cents above Brent. That unusually tight spread, or slight inversion, can reflect strong demand for US crude in export markets or shifts in global supply logistics, and it is worth monitoring in the coming sessions.
Global oil production is running at 65.0 million barrels per day, providing a broad measure of supply across producing nations. Markets next week will be watching for any updated guidance from OPEC+ regarding its output targets, as well as fresh demand signals from China and Europe. Any significant change in those factors could move prices and influence how US producers plan their activity heading into the following month.
Data source: U.S. Energy Information Administration Weekly Petroleum Status Report. All production figures are EIA estimates subject to revision.