Mumbai, Oct. 10 -- EIA stated in its Short-Term Energy Outlook that in July, US crude oil production averaged more than 13.6 million b/d, the most in any month on record. Production in July was higher than we previously estimated, which raised the starting point for our US crude oil production forecast. It raised forecast for crude oil production in the Gulf of America as some projects are ramping up production faster than expected. EIA noted that although it expects crude oil production will decline from its recent peak as oil prices fall, the US crude oil production will average 13.5 million b/d in both 2025 and 2026. Our 2026 forecast increased by 0.2 million b/d from last month.
Brent crude oil spot prices averaged $68 per barrel (b) i...