US crude oil production stands at 13.8 million barrels per day, according to the latest weekly figures. That output level keeps the United States among the top producers in the world and reflects continued activity across major basins including the Permian in Texas and New Mexico. Production has held at elevated levels for much of the recent period, underscoring the resilience of domestic supply even as operators manage costs and capital budgets carefully.
Output rose by 7,000 barrels per day compared to the previous week, a modest but positive gain. Changes of this size are common week to week and typically reflect minor fluctuations in operational activity rather than any significant shift in producer strategy. Still, the consistent pattern of output holding near record highs suggests that American producers are maintaining strong operational footing heading into the remainder of the year.
West Texas Intermediate crude is currently priced at $84.65 per barrel, while Brent crude sits at $84.36 per barrel. The relationship between the two benchmarks is notable this week, with WTI trading slightly above Brent, an inversion of the more typical spread where Brent commands a small premium. This narrowing or occasional flipping of the spread can reflect changes in domestic supply dynamics, export demand, or shifts in transportation and logistics costs across global markets.
Global oil production is running at approximately 65.0 million barrels per day, accounting for output tracked across major producing nations. Markets will be watching whether OPEC-plus members maintain their current output commitments and whether any demand signals from large consuming economies in Asia or Europe shift expectations for the weeks ahead. Any significant change in geopolitical conditions or refinery activity could move both prices and production figures in the near term.
Data source: U.S. Energy Information Administration Weekly Petroleum Status Report. All production figures are EIA estimates subject to revision.