The May 2026 STEO shows an increase in both the near-term and long-term forecasts for U.S. crude oil production compared to the April 2026 estimates.
The forecast for U.S. marketed natural gas production showed an increase to forecasts in the May 2026 STEO.
Natural Gas Plant Liquids production forecasts show a strong upward trajectory in the May 2026 STEO.
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By Jennifer Nash
The U.S. Energy Information Administration (EIA) has released its latest Short-Term Energy Outlook (STEO), providing forecasts for energy markets. This article presents the annual production outlooks for crude oil, natural gas, and natural gas liquids (NGLs), comparing the May 2026 projections